Berkadia Brokers Off-Market Sale of 126-Unit Concord Multifamily Portfolio to RockBridge Investment Group

CHARLOTTE, N.C. — Berkadia has arranged the off-market sale of two multifamily communities in Concord, North Carolina, totaling 126 units, to Virginia-based Rockbridge Holdings, the firm announced July 30, 2026.

The portfolio consists of Meadow Creek Townhomes, an 82-unit garden-style community, and Northway at Cabarrus, a 44-unit garden-style community. RockBridge Investment Group acquired Meadow Creek Townhomes from California-based Serra Vista Partners, LLC and Northway at Cabarrus from Charlotte-based Wickenden Partners. Both transactions were completed off-market.

The Berkadia Charlotte team — comprising Director Thomas Colaiezzi, Senior Managing Director Caleb Troop, and Associate Directors Matt Robertson and Drew Kwiatkowski — represented RockBridge Investment Group in its acquisition of Meadow Creek Townhomes and represented Wickenden Partners in the sale of Northway at Cabarrus.

Property Details: Meadow Creek Townhomes and Northway at Cabarrus

Meadow Creek Townhomes, located at 609 Easy Street in Concord, was built in 1997 and offers 82 two-bedroom garden-style and townhome residences ranging from 980 to 1,080 square feet. Unit interiors feature open-concept layouts, vaulted ceilings in select units, granite-inspired countertops, electric appliances, real wood cabinetry, hardwood-style flooring, washer and dryer hookups, walk-in closets, and private patios or balconies.

Northway at Cabarrus, located at 1915 Pine Bough Lane in Concord, was built in 1994 and comprises 44 one- and two-bedroom apartment homes ranging from 640 to 727 square feet. The property features renovated interiors with stainless steel appliances, granite countertops, new cabinetry, hardwood-style flooring, and washer and dryer hookups.

Both properties are situated in the Cabarrus County submarket of suburban Concord.

Portfolio Strategy and Buyer Profile

The combined 126-unit portfolio gives RockBridge Investment Group two proximate suburban assets of similar vintage and product type in Cabarrus County. The shared profile of the two communities allows for a unified management platform and consolidated maintenance operations across both sites, which can lower per-unit operating costs.

Meadow Creek Townhomes presents a value-add opportunity through hard-surface upgrades, amenity improvements, and management efficiencies, while Northway at Cabarrus — with its already-renovated interiors — offers upside through rent optimization and expense control. Both acquisitions align with a broader investor focus on Class B suburban workforce housing with operational and renovation upside in the Carolinas.

RockBridge Investment Group's decision to pursue both deals off-market reflects a preference for relationship-driven deal sourcing through brokerage networks, allowing the firm to transact outside competitive bid processes in a challenging capital markets environment.

Market Context: Middle-Market Multifamily in the Charlotte Region

"Despite a challenging capital markets environment, middle-market multifamily deals in Charlotte continue to get done, particularly for well-located assets with strong operational upside," said Colaiezzi. "Investors remain focused on opportunities where fundamentals are durable and long-term growth in the market continues to support conviction."

The transactions reflect continued private capital activity in the suburban Charlotte multifamily market, where smaller, well-located assets with value-add potential have attracted investor interest even as elevated debt costs and new Class A supply have weighed on pricing at the top of the market. Cabarrus County's lower land costs and property tax burden relative to central Charlotte have contributed to demand for workforce-oriented rental product in the submarket.

The dual representation by Berkadia — acting on behalf of the buyer in one transaction and the seller in the other — underscores the firm's position as an intermediary across both sides of middle-market multifamily deals in the Carolinas.

About the Firms

Berkadia is a commercial real estate company offering investment sales, mortgage banking, and research services. RockBridge Investment Group is a Virginia-based private investment firm focused on income-producing real estate. Serra Vista Partners, LLC is a California-based real estate firm. Wickenden Partners is a Charlotte-based real estate firm.

Sources: Berkadia — Meadow Creek Townhomes and Northway at Cabarrus, Concord, NC | Sold by Berkadia 2026