A Birmingham-based investment firm has acquired the 136-unit Forest Ridge community off Interstate 77 for $18.3 million. The deal gives Actus Capital a foothold in one of the fastest-growing corners of the Charlotte region, a market where population and job growth have outpaced much of the country even as new apartment supply has kept rents and occupancy under pressure.
Actus Capital, described as a Birmingham firm, financed the purchase with a $12 million loan from Ameritas Life Insurance Corp., according to The Business Journals. The outlet reports that the Forest Ridge acquisition was the company's seventh property across the broader Charlotte region.
Forest Ridge sits at 2300 Forest Ridge Drive and includes townhomes and three-bedroom units in a community built in 1996, according to property data from Yardi Matrix.
A Hot Market With a Supply Hangover
The purchase lands in a Charlotte multifamily market that has drawn investor attention for its demographic momentum. The region added more than 54,000 residents between July 2024 and July 2025, ranking fifth nationwide for population growth, and Charlotte posted the nation's second-highest job growth in 2025, concentrated in white-collar sectors, according to a Colliers market report. Apartments across the metro logged more than 14,500 net move-ins last year, 15% above the prior year's peak, Northmarq found.
That demand has come with a catch. Charlotte's multifamily occupancy rate slipped below 90% entering 2026 after a wave of new construction in 2024 and 2025, per the same Colliers report, and monthly effective rents have stabilized in the $1,530 to $1,560 range as of the first quarter of 2026. Roughly 13,000 new units are slated for completion across the metro this year, though that's down 19% from the prior year's total, according to Northmarq.
Pricing in Line With Recent Fort Mill Deals
Despite the supply glut, investors kept buying. The median Charlotte-area multifamily sale price climbed to $210,700 per unit in 2025, up 19% year over year, while capitalization rates averaged around 5.0% throughout the year, Northmarq reported. The firm expects sales activity to accelerate further in 2026, surpassing last year's relatively light transaction levels.
Pricing in Line With Recent Fort Mill Deals Fort Mill itself has seen comparable trades recently. TerraCap Management acquired the 184-unit, 1996-built Palmetto Place Apartments and outlined plans for a premium renovation program aimed at its below-market rents, per a release carried by PRNewswire via StreetInsider.
Neither the seller of Forest Ridge nor the closing date of the Actus Capital transaction has been disclosed in available reporting, and terms of the $12 million Ameritas loan, including its rate and maturity, were not detailed. It also remains unclear whether Actus Capital intends any renovations or management changes at the property going forward.
