Who We Are
Charter Properties, Inc., a real estate investment, development and
management company, was founded in 1970 by The Springs Company and
William A. White, Jr. Charter Properties, Inc. is 100% owned by The
Springs Company. The Springs Company was formed as a holding
company for The Close Family, founders of Springs Industries, Inc.,
at one time one of the world’s largest textile firms, whose common
stock was for over thirty years traded on the New York Stock
Exchange and is now private. The Springs Company controls
significant investments in land, improved real estate, and various
other business entities.
Our Practice
Charter’s principals source suburban and urban in-fill sites for
the purpose of developing Class A rental apartments for cash
generation and sale to institutional investors. We are focused on
site prominence and site plan, as well as the presence of
employment generators and retail uses that respond to the daily
needs of our residents. We take a disciplined approach to product
mix and unit design to ensure that construction costs and rental
rates are in balance for the incomes and prospective renters we
intend to capture. We do not take entitlement risk, but rather have
cultivated a reputation, performance and track record that draw
patient land sellers to CPI. We have outstanding relationships with
banks and negotiate conservative debt structures that allow for
extended lease up term if needed and contemplate debt-free sales.
Our History
During its 50-year history, Charter has created value through real
estate investment and development as well as active property and
asset management, including development of the first planned office
park in Charlotte as well as the first luxury condominium project
in the city. CPI has successfully invested in joint ventures with
such diverse entities as NationsBank (predecessor to Bank of
America), Crescent Resources, Citibank Employees’ Pension Fund and
private wealth family offices. In the multifamily arena, Charter
has developed almost 10,000 apartment units in 35 projects,
delighting our investors with an average Internal Rate of Return in
excess of 20% over the past 14 years. Including over 1,500,000
square feet of retail and office property, Charter has cumulatively
built $800M of investment real estate. Its top five executives have
served the firm for an average of 26 years.
Charter Gives Back
