South Carolina

NOVEL Harpeth Heights in Nashville, Tennessee

Crescent Communities Sells Two Southeast Communities Totaling 642 Units

by Channing Hamilton October 23, 2023

NASHVILLE, TENN. AND CARY, N.C. — Crescent Communities has sold two communities totaling 642 units in the Southeast. TA Realty acquired both assets from the Charlotte-based developer for an undisclosed price. The first property, NOVEL Harpeth Heights, comprises 322 apartments in Nashville. Units come in studio, one-, two- and three-bedroom layouts. Amenities include a clubhouse, spa and fitness center. Crescent Communities developed the property in partnership with Pearl Street Partners. The second property, NOVEL Cary, features 320 units in studio, one-, two- and three-bedroom floor plans within the Raleigh suburb …

October 23, 2023

Build-to-Rent Development Investment Sales News South Carolina Southeast

TruAmerica Multifamily Plans $86 Million Build-to-Rent Project Near Spartanburg, South Carolina

by Channing Hamilton October 17, 2023

INMAN, S.C. — TruAmerica Multifamily has purchased a 33-acre site in the Spartanburg suburb of Inman to develop Hartley View, an $86 million build-to-rent community. Brad Morris of New Deco Inc. represented the seller, Converse Development, in the land sale. Hartley View will offer a total 281 units, including 214 townhome units and 67 detached single-family residences. Amenities will include a pool, dog parks, playgrounds, community parks and four acres of open wooded and recreation spaces. TruAmerica Multifamily plans to begin horizontal construction at the site in summer 2024 and …

October 17, 2023

Investment Sales News South Carolina Southeast

Marcus & Millichap Brokers $5.4 Million Sale of Clement Arms Apartments in North Charleston, South Carolina

by Channing Hamilton October 12, 2023

NORTH CHARLESTON, S.C. — Marcus & Millichap has brokered the $5.4 million sale of Clement Arms Apartments, a 49-unit community located at 1815 Clements Ave. in North Charleston. Ryan Lipomi, Will Graves and Nate McDaniel of Marcus & Millichap’s Charleston office represented the seller and procured the buyer in the transaction. Both parties requested anonymity. Clement Arms Apartments was built in 1980 on 1.2 acres.

October 12, 2023

Finance News South Carolina Southeast

JLL Brokers $21.8 Million Financing for Granby Oaks Apartments in West Columbia, South Carolina

by Channing Hamilton August 31, 2023

WEST COLUMBIA, S.C. — JLL Capital Markets has arranged $21.8 million in bridge financing for Granby Oaks Apartments, a garden-style community in West Columbia. Thomas Didio, Gerard Quinn, Ward Smith and Michael Mataras worked on behalf of the sponsor, PAM Associates LLC, to secure the two-year, floating-rate loan through MF1 Capital LLC. Granby Oaks Apartments was built in 1973 and is situated directly west of downtown Columbia. The property features one, two- and three-bedroom units across 21 buildings. Amenities include a dining room, clubhouse, laundry facility, courtyard and pool.

August 31, 2023

Investment Sales News South Carolina Southeast

Harbor Group International Acquires Artisan Carolina Forest in Myrtle Beach, South Carolina, for $64.4 Million

by Channing Hamilton August 28, 2023

MYRTLE BEACH, S.C. — Harbor Group International has purchased Artisan Carolina Forest, a 276-unit community in Myrtle Beach, for $64.4 million. Northmarq’s John Currin and Andrea Howard brokered the transaction. Artisan Carolina Forest was built in 2022. The community offers amenities such as a pool with a TV lounge and cabanas, a dog park, EV charging stations, a fitness center with a yoga room and co-working spaces.

August 28, 2023

Retreat at Palm Pointe in Charleston, S.C.

Investment Sales News South Carolina Southeast

Cohen Investment Group Sells Retreat at Palm Pointe for $13.3 Million

by Channing Hamilton July 6, 2023

CHARLESTON, S.C. — Prospect Lane acquired Retreat at Palm Pointe, a 112-unit community in Charleston, from Cohen Investment Group for $13.3 million. John Phoenix, Richard Gore, Tyler Fish and Pat O’Brien of Cushman & Wakefield represented the seller. Greystone’s Donny Rosenberg arranged a Fannie Mae loan to finance the acquisition. Retreat at Palm Pointe was built in 1991. The community offers one-bedroom apartments with internet connectivity, ceiling fans and hardwood-style flooring.

July 6, 2023

The Apartments at Brayden in Fort Mill, S.C.

Investment Sales News South Carolina Southeast

Knightvest Capital Acquires The Apartments at Brayden Near Charlotte, North Carolina

by Channing Hamilton May 15, 2023

FORT MILL, S.C. — Knightvest Capital has acquired The Apartments at Brayden, a 332-unit garden-style community in Fort Mill, for an undisclosed price. Fort Mill is a southern suburb of Charlotte, North Carolina. The Apartments at Brayden was built in 2016 and offers one-, two- and three-bedroom floor plans. Community amenities include a swimming pool, fitness center and clubhouse. The acquisition is Knightvest Capital’s fifth investment in the Charlotte metropolitan area since 2020.

May 15, 2023

Exterior of the Exchange at Windsor Hill in Charleston

Investment Sales News South Carolina Southeast

Cushman & Wakefield, Greystone Arrange North Charleston Transaction

by Lynn Peisner February 21, 2023

CHARLESTON, S.C. — Cushman & Wakefield and Greystone have arranged the sale of and financing for Exchange at Windsor Hill, a 312-unit community in Charleston. The buyer is American Landmark Apartments, and the seller is Carter Funds and Barrymor Enterprises of NJ. Cushman & Wakefield’s John Phoenix, Louis Smart and Austin Green represented the sellers in the transaction. Greystone Managing Director Donny Rosenberg arranged the 10-year, Freddie Mac Optigo acquisition loan. Exchange at Windsor Hill was built in 2020 in the North Charleston submarket. Amenities include a resort-style pool with …

February 21, 2023

Investment Sales News South Carolina Southeast

Cushman & Wakefield Arranges $77.5 Million Sale of Broadstone Ingleside in South Carolina

by Lynn Peisner February 14, 2023

LADSON, S.C. — Cushman & Wakefield has arranged the $77.5 million sale of Broadstone Ingleside in Ladson, South Carolina, about 27 miles northwest of Charleston. Cushman & Wakefield’s John Phoenix, Louis Smart and Austin Green represented the undisclosed seller in the transaction. The community was acquired by a joint venture made up of Abacus Capital and Westbrook Partners affiliates. The 336-unit community was built in 2021 by Alliance Residential. Cline Design Associates was the architect on the project.

February 14, 2023

Facade of ARIUM Charlotte apartment community

Market Reports North Carolina South Carolina Southeast

What’s Driving the Development Wave in the Carolinas?

by Lynn Peisner February 2, 2023

North and South Carolina may fly under the radar when it comes to ranking the nation’s top multifamily markets. But a closer look at the region reveals metrics that rival some of the busiest cities in the country. “One of the common themes across metros in these two states is just how differently both investors and developers view the region versus how they viewed it 10 years ago — and certainly versus 20 years ago,” says Carl Whitaker, director of research for Richardson, Texas-based RealPage, which provides data, analytics and …

February 2, 2023

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