CHARLESTON AND BEAUFORT, S.C. — Patterson Real Estate Advisory Group has arranged the recapitalization of a 400,000-square-foot, six-property warehouse portfolio located in coastal South Carolina. The portfolio includes five properties in Charleston and one in Beaufort that were acquired by the borrower, RCB Development, between 2017 and 2023.
In March, RCB Development recapitalized the portfolio’s equity with SilverCap Partners and completed the refinancing in November with a new senior loan provided by Ameris Bank. Patterson served as capital advisor to RCB for both transactions.
All properties in the portfolio have undergone significant capital improvements, such as addressing deferred maintenance, upgrading landscaping, signage and building exteriors, as well as property-specific renovations. The portfolio was 99 percent leased at the time of the financing.