The Reserve at Stone Hollow
Built in 2009, The Reserve at Stone Hollow is a Class A multifamily community located 17 miles northeast of the Charlotte central business district.
Located in the University City area, The Reserve at Stone Hollow is proximate to University of North Carolina at Charlotte (26,000 students), the University Research Park (home to over 200 companies) and Charlotte Motor Speedway which, together, employs approximately 30,000 people. Robust population growth and easy access to the I-485 Interchange / Extension were key factors in Waypoint’s decision to purchase the property along with an value-added proposition through unit, amenity and operational enhancements.
The Reserve at Stone Hollow was underwritten assuming a seven-year hold period and was projected to achieve an IRR of 10% – 13%. Due to favorable conditions, the property was sold five years after acquisition providing a realized IRR to our investors of 15%, well above initial projections.