Gastonia Apartments Sold for $6.25 Million


Capstone Apartments Partners has arranged the $6.25 million sale of the 176-unit Bluffs at Northwoods, an apartment complex located at 1850 Yellowstone Ct. in Gastonia. Amenities include a clubhouse, pool, fitness center, tennis courts and laundry center.

Brian Ford and Beau McIntosh of Capstone’s Charlotte, N.C., office represented the seller, Willamette Property Holdings, in the transaction. The buyer was a private investor.

Based upon information in this LOOPNET LISTING, the capitalization rate was 9.9%. The property is 94% leased and the asking price was $6.9 million

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