The 312-unit Vive at Kellswater in Kannapolis, NC. The 312-unit Vive at Kellswater in Kannapolis, NC.

KANNAPOLIS, NC—BRT Apartments Corp. of Great Neck, NY reports it has acquired a more than 300-unit multifamily community in the Charlotte, NC suburb of Kannapolis.

An entity of BRT Apartments in which the firm has a 65% interest, has purchased the 312-unit Vive at Kellswater community for $48.1 million, including $33.4 million of mortgage debt assumed in connection with the acquisition. The mortgage debt matures in 2052 and carries an annual interest rate of 3.52%. BRT reports it contributed $11.2 million of equity in connection with the acquisition and improvements to the property.

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John Jordan

John Jordan is a veteran journalist with 36 years of print and digital media experience.

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