News & Trends





Denver Firm Purchases Marquee Greensboro Multifamily Complex, Encore North Apartments 


GREENSBORO, N.C. (MAY 21, 2019) --- Carlisle Residential Properties (Carlisle), a growing multifamily developer and management company, today announced that, on behalf of its investors, it has sold Encore North Apartments to Denver-based Grimley Residential.  The net sale price was $33,862,600.  The transaction closed on May 7, 2019.  Occupancy rate at closing was 95%.  The community will retain its name and will be managed by Carter-Haston on behalf of the new owner.

Encore North Apartments, a luxury apartment community with 237 one and two-bedroom apartment homes, was built by Greensboro-based Lomax Construction in 2016.  Its resort-like amenities include a saltwater pool with a thermal ledge, a beautifully appointed resident lounge, and a community game room.  The upscale apartment homes feature 9’ ceilings, granite kitchen counter tops and stainless-steel appliances, in-home washers and driers, and crown moldings.  Its location is ideal, situated in a beautiful suburban-like setting, but only minutes from the downtown.

Commenting on the transaction, Matthew M. Rankin, Carlisle’s President and CEO, said: “The sale of this Class A property, which we held for 3½ years, represents a very good return on our original investment.  Grimley, interested in expanding its presence in the Southeast, was looking for outstanding properties with excellent reputations and positioning in the market.  Encore North Apartments certainly fulfilled that criteria.  For Carlisle, the sale represented an opportunity to lock in a favorable return for our investors.  We will continue to seek out development and acquisition opportunities, and evaluate dispositions, in the best interests of our investor base.  This was a ‘win-win’ for both parties, and we would very much welcome the prospect of working with Grimley in the future.”

The broker for the transaction was Cushman & Wakefield.


About Carlisle

Carlisle Residential Properties is engaged in the ownership, development, acquisition and management of multifamily residential apartment communities in North and South Carolina.  Established in 1984 as Brantley Properties, Inc. by Joseph M. Brantley III, Carlisle employs more than 130 team members throughout the Carolinas and is headquartered in Greensboro, N.C.  Their website is



Kevin Thompson, Chief Marketing Officer

Carlisle Residential Properties

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