News & Trends

Cushman & Wakefield Arranges $34.3M Sale of Encore North for Carlisle Residential Properties

North Carolina Multifamily Community Sells for $144,725 Per Unit

CHARLOTTE, North Carolina, May 31, 2019 – Cushman & Wakefield has arranged the $34.3 million sale of Encore North, a 237-unit apartment community located in Greensboro, North Carolina. Watson Bryant, Jordan McCarley and Brooks Colquitt of Cushman & Wakefield represented the seller, Carlisle Residential Properties, in the transaction. Grimley Residential acquired the property.

“The sale of Encore North was a successful transaction for everyone involved,” said Matthew Rankin, CEO of Carlisle Residential. “For Carlisle and its investors, the deal represented a very good return on our original investment.  From the outset, we were impressed by the professionalism of the buyer, Grimley, and the expertise of the broker, Cushman & Wakefield.  Should the opportunity present itself, we would happily partner in future transactions with Grimley and Cushman.”

 “The Encore North acquisition feeds directly into our continuing strategy of acquiring newer apartments in climate-resilient markets across the United States,” said Scott Shore, Director of Acquisitions at Grimley Residential. “Cushman & Wakefield and Carlisle Residential Properties were both incredible to work with on this transaction.”

Encore North, built in 2017, offers upscale community amenities including a resort-style swimming pool, fitness center, yoga studio, outdoor kitchen, grilling areas, resident lounge, community game room with pool table, and dog park.

“Having recently sold the Bridford West apartment community in Greensboro, Encore North is another example of the expanding apartment market throughout the Piedmont,” Bryant said. “Encore North is a strong, value-add extension to Grimley Residential’s growing Southeast portfolio in this booming secondary market.”

Cushman & Wakefield’s Southeast Multifamily Advisory Group ranked No. 1 in market share in 2018 based on closed transactions, totaling $4.5+ billion in sales volume, according to Real Capital Analytics. For more information about Cushman & Wakefield’s Southeast Multifamily Advisory Group, visit  

About Cushman & Wakefield

Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 51,000 employees in 400 offices and 70 countries. In 2018, the firm had revenue of $8.2 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit or follow @CushWake on Twitter.