Belmont Heights, a 176-unit garden-style apartment community in Belmont just outside Charlotte, changed hands again in April, keeping its recent hot-streak alive. The low-rise complex at 199 Belmont Mount Holly Road, made up mostly of two-story buildings across roughly 13 acres, was acquired by a private investor group this month. It marks the second ownership change for the property in a little over two years.
Details of the sale
According to CoStar, Burlington Capital Group paid more than $31 million for Belmont Heights. CoStar lists the property’s address and unit count and notes that this marks the community’s second trade since early 2024.
In a press release via URS Capital Partners, the seller confirmed the disposition and said the transaction “delivered strong risk-adjusted returns” after a period of focused asset management. URS managing partner Christopher Urso added that “Belmont Heights represented conviction at a time when uncertainty was high.”…