Equity Street Capital and Cherner Development Collaborate to Acquire 511 Queens

511 Queens Charlotte, NC

Charlotte, NC – June 15, 2022 – Equity Street Capital, in collaboration with Cherner Development, is thrilled to announce the successful acquisition of the distinguished multifamily property, 511 Queens. This strategic investment marks Equity Street Capital’s partnership with Cherner Development in expanding their presence in Charlotte, NC.

Built in 2018, 511 Queens stands prominently along the picturesque, tree-canopied Queens Road in Myers Park, one of Charlotte’s most exclusive neighborhoods. This 64-unit Class A property is a top-tier boutique asset, boasting custom home-level finishes, generously sized floor plans averaging 1,121 square feet, and a compelling array of amenities, including a fitness center, business center, and resident lounge. Crafted to perfection, the property is designed to provide Myers Park’s elite resident base with a best-in-class, single-family alternative within a low-maintenance, condo-quality community.

Nestled in the north end of Myers Park, 511 Queens offers residents a serene neighborhood living experience while being just 5 minutes away from Charlotte’s vibrant Uptown. The property’s prime location is surrounded by single-family homes ranging from $1 million to $5 million, and notably, there is no new multifamily supply in the vicinity. This strategic acquisition aligns with Equity Street Capital and Cherner Development’s commitment to delivering exceptional living experiences and underscores their vision for growth in the dynamic Charlotte real estate market.

About Equity Street Capital: Equity Street Capital (ESC) is a San Diego-based commercial investment firm renowned for its focus on achieving attractive risk-adjusted returns while maximizing long-term capital appreciation. Founded by real estate investors and entrepreneurs Than Merrill and Paul Esajian, Equity Street Capital is dedicated to providing transformative real estate investment opportunities to it’s investors.