REBusinessOnline

Berkadia Arranges Sales of Two Multifamily Assets in Carolinas for $47.7M

BELMONT, N.C. AND NORTH CHARLESTON, S.C. — Berkadia has arranged the sales of two multifamily communities located in Belmont and North Charleston. In Belmont, roughly 14 miles west of Charlotte, Berkadia arranged the $16.7 million sale of Abbey Court, a 176-unit community. Texas-based Napali Capital LLC acquired the asset from Raleigh-based American Residential Investment Management. The community includes one- and two-bedroom units and features a pool, playground, grilling and picnic area …

Acquisitions, Multifamily, North Carolina, South Carolina, Southeast

McCraney Signs 507,512 SF Lease with Third-Party Logistics Provider in Metro Charlotte

ROCK HILL, S.C. — McCraney Property Co. has signed a 507,512-square-foot lease with NFI at Logistics 77 @ Riverwalk in Rock Hill, roughly 27 miles south of Charlotte in South Carolina. NFI, a supply chain solutions provider and one of the primary third-party logistics providers to Amazon, will be the sole tenant at the facility. Warren Snowdon and David Hanna of Foundry Commercial arranged the lease on behalf of McCraney, which developed the building. Logistics 77 @ Riverwalk is located …

Industrial, Leasing Activity, South Carolina, Southeast

Beach Co. Breaks Ground on Mixed-Use Building in Charleston’s Historic District

CHARLESTON, S.C. — The Beach Co. has broken ground on The Jasper, a 12-story mixed-use building located at 310 Broad St. in Charleston’s Harleston Village neighborhood. The property, situated at the western gateway to Charleston’s historic district, will feature views of the Ashley River and offer 75,000 square feet of office space, 219 multifamily units and 25,000 square feet of ground-floor retail and restaurant space. The residential portion of the project will feature a rooftop pool …

Development, Multifamily, South Carolina, Southeast

RADCO Acquires Two-Property Multifamily Portfolio in Charleston for $30M

CHARLESTON, S.C. — The RADCO Cos. has acquired a two-property multifamily portfolio in Charleston for $30 million. Dubbed the West Ashley Portfolio, the Class B communities total 300 units. The properties have been renamed Ashford Riverview and Ashford Palmetto Square. The Atlanta-based firm plans to invest more than $5 million to update the buildings, which were constructed in the late 1960s. The communities are located less than a mile apart and include a mix of one- to three-bedroom floor …

Acquisitions, Multifamily, South Carolina, Southeast

HCP Forms $605M Medical Office Joint Venture With Morgan Stanley

IRVINE, CALIF. — Irvine-based real estate investment trust HCP (NYSE: HCP) has entered into a definitive agreement to form a new $605 million joint venture with Morgan Stanley Real Estate Investment (MSREI) on a 2 million-square-foot medical office building portfolio. MSREI will provide cash to the joint venture for a 49 percent stake, while HCP will contribute nine wholly owned medical office buildings valued at approximately $320 million. These assets, located primarily in Texas and …

Acquisitions, California, Company News, Florida, Healthcare, South Carolina, Southeast, Top Stories, Western

Colliers Brokers $16.3M Sale of Open-Air Shopping Center in Columbia

COLUMBIA, S.C. — Colliers International has brokered the $16.3 million sale of Village at Town Center I, a 288,000-square-foot, open-air shopping center in Columbia. Joe Montgomery and Tony D’Ambrosio of Colliers arranged the transaction on behalf of the seller, a CMBS special servicer. Sandhill Center LLC, a South Florida-based private ownership group, acquired the asset. JC Penney and Books-A-Million anchor Village at Town Center, which was 84 percent leased at the time of sale. …

Acquisitions, Retail, South Carolina, Southeast

HFF Brokers $70.5M Sale of Industrial Portfolio in Metro Charlotte

CHARLOTTE, N.C. AND FORT MILL, S.C. — HFF has brokered the $70.5 million sale of a two-building industrial portfolio in the greater Charlotte area. Chris Norvell and Patrick Nally of HFF arranged the transaction on behalf of the seller, The Keith Corp., which also developed the buildings. The name of the buyer was not disclosed. The portfolio includes a 599,018-square-foot building at 3725 Westinghouse Blvd. in Charlotte and a 165,382-square-foot building at 2901 Lakemont Blvd. in Fort Mill, …

Acquisitions, Industrial, North Carolina, South Carolina, Southeast

Lee & Associates Arranges $69M Sale of Business Park in North Charleston

NORTH CHARLESTON, S.C. — Lee & Associates has brokered the $69 million sale of Aviation Business Park, a 342,042-square-foot business park located along Interstate 29 in North Charleston. The property includes seven buildings and is situated on 29 acres. Bob Nuttall and Reid Davis of Lee & Associates arranged the transaction on behalf of the buyer, Greenville Corporate LLC. The seller, Rushmark Properties, was represented internally. Aviation Business Park was developed in 2001 and is …

Acquisitions, Office, South Carolina, Southeast

Gateway Development Breaks Ground on Third Building at $300M WestEdge Project in Charleston

CHARLESTON, S.C. — Atlanta-based Gateway Development has broken ground on 22 WestEdge, a 156,000-square-foot office building located within the $300 million WestEdge mixed-use district in Charleston. The 3 million-square-foot development is situated along the Ashley River, between The Medical University of South Carolina (MUSC) and The Citadel. 22 WestEdge is the third building within the project. At 125 feet, the eight-story building will be the tallest multi-tenant office building on the …

Development, Mixed-Use, Office, South Carolina, Southeast

HFF Secures $18.2M Loan for Refinancing of Office Portfolio in Columbia

COLUMBIA, S.C. — HFF has secured an $18.2 million loan for the refinancing of Fontaine Business Park, a four-building office portfolio totaling 253,038 square feet in Columbia. Jamie Leachman, Cory Fowler and Drake Greer of HFF arranged the five-year, floating-rate loan through Bridge Investment Group on behalf of the borrower, Diversified Real Estate Ventures. Fontaine Business Park has historically been around 90 percent leased due to demand from state and local government

Loans, Office, South Carolina, Southeast

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