Sherman Residential Bolsters Portfolio with Strategic Acquisition of Elan Research Park in Charlotte
In a recent acquisition that underscores the vitality of the Charlotte multifamily market, Sherman Residential has expanded its portfolio with the acquisition of Elan Research Park, now known as Axis at the Park. Located in a promising suburban locale adjacent to Research Park—an epicenter of corporate activity home to prominent entities such as Wells Fargo, Vanguard, TIAA, and Atrium Health—this 348-unit luxury community presents an appealing blend of residential tranquility and professional proximity.
Axis at the Park, established in 2023, demonstrates the latest in luxury and design, boasting a range of studio to three-bedroom apartments, as well as the distinctive choice of two-story townhomes with attached garages—a rare find that combines the space and privacy of a house with the conveniences of community living. The meticulous selection of finishes, including quartz countertops and matte black fixtures, cater to an audience with an eye for detail and quality.
From the perspective of amenities, Axis at the Park positions itself as a unique multifamily offering within the area. The introduction of a pickleball court and two gated dog parks, alongside a resort-style swimming pool with designated lap lanes, allows for a lifestyle that balances wellness with leisure. These amenities complement the modern needs of its residents, with ample spaces fashioned for work and study comprising both private offices and group work areas.
Sherman Residential, a centennial family-owned firm with experience in multiple states, not only asserts their continued commitment to growth with this acquisition but also their competence in identifying assets that align with modern living expectations. The inclusion of thoughtful extras, such as three Level 2 EV chargers and in-unit washers and dryers, alongside fitness and flexible workspaces, anticipate the demands of the contemporary tenant.
Highlighting the strategic value of this acquisition, a representative from Sherman Residential stated, “We’re excited to return to North Carolina after the successful sale of a Charlotte asset earlier this year. Axis at the Park’s modern design and desirable submarket will make it a great addition to the Sherman portfolio.” This sentiment suggests confidence in the enduring appeal and future success of Axis at the Park within their collection of properties.
Sherman Residential’s ability to discern and invest in properties that resonate with contemporary consumer demands demonstrates a fusion of historic business acumen with forward-thinking strategy—an essential combination for the dynamic and ever-evolving multifamily industry.