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LoansMultifamilySouth CarolinaSoutheast

Mesa West Capital Provides $50.4M Refinancing for Ames Apartments in Metro Charleston

by John Nelson

SUMMERVILLE, S.C. — Mesa West Capital has provided a $50.4 million loan for the refinancing of The Ames, a new Class A apartment community located in Summerville, a suburb of Charleston. Walker Layne and Austin Sneed of Walker & Dunlop arranged the financing on behalf of the borrower, Woodfield Development, which delivered the 304-unit property in 2024. Pamir Niaz led Mesa West Capital’s New York-based origination team in the deal. The Ames is located at 3800 Zephyr Road within the Nexton master-planned community and features a mix of studio, one-, two- and three-bedroom layouts. Amenities include a resort-style pool with poolside cabanas and grilling stations, an outdoor amphitheater, resident lounge, fitness center, pickleball courts and a dog park. 

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AcquisitionsRetailSouth CarolinaSoutheast

Marcus & Millichap Arranges $7.1M Sale of Two Vacant Retail Properties in Columbia

by John Nelson

COLUMBIA, S.C. — Marcus & Millichap has arranged the $7.1 million sale of two vacant retail buildings located on a 3.2-acre site at 3818 Devine St. in Columbia. The 38,816-square-foot property was home to a Piggly Wiggly for more than 40 years before the grocer closed in April. Harrison Creason and Andrew Margulies of Marcus & Millichap brokered the transaction between the seller, an out-of-state owner, and the buyer, locally based Cason Development Group.

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GITC
AcquisitionsGeorgiaIndustrialMassachusettsNortheastSouth CarolinaSoutheastTop Stories

Hines Acquires Three East Coast Industrial Assets for $309M

by Hayden Spiess

HOUSTON — Hines Global Investment Trust (HGIT), a real estate investment trust (REIT) sponsored by Houston-based global asset manager Hines, has acquired three industrial assets located on the East Coast for a total $309 million.  The acquired properties include two distribution facilities situated within the Georgia International Trade Center (GITC) in the Savannah market and two warehouse/distribution facilities located in Upton Crossing, a warehouse campus in Wilmington, Mass. The Davis Cos., a real estate investment and development firm based in Boston, sold both assets, which total 2.5 million square feet. Additionally, HGIT acquired I-85 Logistics Center, an industrial property in the Greenville-Spartanburg metro in South Carolina’s Upstate region. The seller of I-85 Logistics Center was not disclosed. The properties in Savannah total 2.2 million square feet and were fully leased at the time of sale. A joint venture between Davis and Atlanta-based Stonemont Financial Group developed GITC, which comprises a total 7.7 million square feet of manufacturing and warehouse space across 10 buildings. The site is located roughly 10 miles from the Port of Savannah.  Totaling 215,000 square feet, the properties at Upton Crossing in Wilmington were 81 percent leased at the time of acquisition. Davis acquired Upton Crossing in …

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DevelopmentIndustrialSouth CarolinaSoutheast

Equity Industrial Partners Delivers 384,800 SF Industrial Facility Near Charleston for RoadOne

by John Nelson

SUMMERVILLE, S.C. — New England-based Equity Industrial Partners (EIP) has delivered a 384,800-square-foot industrial facility located at 1932 Dawson Branch Extension in Summerville, a suburb of Charleston. EIP, along with general contractor Frampton Construction, delivered the build-to-suit on behalf of Massachusetts-based RoadOne IntermodaLogistics Inc. The property features 100 dock doors, one drive-in ramp and 5,600 square feet of office space. The facility is situated on the Kelly Branch Tract, a 95-acre site that EIP acquired in 2023. RoadOne’s building is the first of three phases planned for the site. Phase II is currently being permitted for an additional warehouse or manufacturing facility totaling approximately 300,000 square feet.

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DevelopmentIndustrialLoansSouth CarolinaSoutheast

RL Capital Arranges $28.5M Construction Loan for Industrial Development in Upstate South Carolina

by John Nelson

EASLEY, S.C. — RL Capital Associates has arranged a $28.5 million construction loan for Speedway Business & Technology Park, a 335,000-square-foot industrial park in Easley, a city west of Greenville in South Carolina’s Upstate region. The development is situated on a 600-acre site in Pickens County that formerly housed the Greenville-Pickens Speedway. First National Bank provided the loan on behalf of the borrower, RealtyLink. The locally based developer plans to initially invest $100 million in Phase I of Speedway Business & Technology Park, which will comprise 1 million square feet of industrial space.

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IndustrialLoansSouth CarolinaSoutheast

Marcus & Millichap Capital Corp. Arranges $6.5M Refinancing for Industrial Park in Fort Mill, South Carolina

by John Nelson

FORT MILL, S.C. — Marcus & Millichap Capital Corp. (MMCC) has arranged a $6.5 million loan for the refinancing of Society Lane Industrial Park in Fort Mill, a South Carolina suburb of Charlotte. The 11-building property was fully leased at the time of financing to 13 tenants. Duke Dennis of MMCC’s Dallas office arranged the five-year loan through an undisclosed bank on behalf of the owner, Phoenix Industrial Redevelopment. The loan was structured at 250 basis points above the 5-year Treasury yield, with a 25-year amortization schedule and stepdown prepayment options.

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HospitalityLoansSouth CarolinaSoutheast

Cronheim Hotel Capital Arranges $23.6M Refinancing for Holiday Inn Resort in Surfside Beach, South Carolina

by John Nelson

SURFSIDE BEACH, S.C. — Cronheim Hotel Capital has arranged a $23.6 million loan for the refinancing of Holiday Inn Resort, a 206-room, beachfront hotel in Surfside Beach, a city in the Myrtle Beach metropolitan area. The borrowers, Innisfree Hotels and RREAF Holdings, purchased the 11-story property as an independent hotel in late 2023 and invested capital to convert the asset to a Holiday Inn Resort. The direct lender was an undisclosed regional bank. According to the property website, the hotel features an onsite restaurant, fitness center, pool and a kids splash pad.

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DevelopmentMultifamilySouth CarolinaSoutheast

Collier Cos. Closes on Land Acquisition in Metro Charleston’s Nexton Community, Plans 360-Unit Apartment Project

by John Nelson

SUMMERVILLE, S.C. — The Collier Cos. has closed on the purchase of a 10.7-acre parcel within the master-planned community of Nexton in Summerville, approximately 25 miles from downtown Charleston. The company plans to develop 360 new apartment homes on the site. Situated within walking distance from retail and dining options such as Publix, Harris Teeter and The Pickle Bar, the complex will feature studio, one-, two and three-bedroom apartments. Amenities at the property will include a fitness center, game area, pet spa, bocce ball court, yoga lawn, pickleball court, dog park, resort-style swimming pool and grilling stations. Collier Cos. anticipates to begin leasing at the community in early 2027.

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AcquisitionsRetailSouth CarolinaSoutheast

NAI Charleston Arranges Sale of 57,659 SF Shopping Center in Myrtle Beach, South Carolina

by John Nelson

MYRTLE BEACH, S.C. — NAI Charleston has arranged the sale of a 57,659-square-foot shopping center located at 201-233 International Drive in Myrtle Beach. Built in 2014, the center sits on 6.4 acres, according to LoopNet. Lowes Foods anchors the center, which is leased to a mix of local and national tenants. Thomas Boulware and Michael Branch of NAI Charleston represented the buyer in the transaction. Drew Parks of Coldwell Banker Commercial represented the seller. Both parties requested anonymity and the sales price was not released.

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AcquisitionsMultifamilySouth CarolinaSoutheast

URS Capital Acquires Palms at Edgewater Apartments in Summerville, South Carolina for $58.5M

by John Nelson

SUMMERVILLE, S.C. — URS Capital Partners has acquired The Palms at Edgewater, a 288-unit apartment community in the Charleston suburb of Summerville, for $58.5 million. The seller was not disclosed. The Huntington, N.Y.-based buyer financed the acquisition with a five-year, fixed-rate agency loan. Built in 2023, Palms at Edgewater features a mix of one-, two- and three-bedroom apartments ranging in size from 778 to 1,200 square feet, according to Apartments.com. Amenities include a pool, fitness center, playground, game room, business center, car wash area and a pickleball court.

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