Berkadia Brokers $12.4M Sale of Apartment Community in Charleston

CHARLESTON, S.C. — Berkadia has brokered the $12.4 million sale of East Central Lofts, a 72-unit, Class A apartment community located at 274 Huger St. in Charleston. Built in 2013, East Central Lofts comprises studio, one- and two-bedroom units with granite countertops, stainless steel appliances, hardwood floors and floor-to-ceiling windows. The property’s amenities include laundry facilities on each floor, a bocce ball court, barbecue area and covered and gated parking. The property offers views of the Ravenel Bridge and is located within walking distance of historic downtown Charleston. East Central Lofts LLC sold the asset to a group of buyers, including Federal Capital Partners, Kane Realty Corp., Randolph Development and Canongate Capital. Mark Boyce of Berkadia’s Charleston office brokered the transaction.