REBusinessOnline

KeyBank Secures $40.2M Refinancing for Three Apartment Properties in Southeast, Michigan

CLEVELAND — KeyBank Real Estate Capital has secured $40.2 million in Fannie Mae financing for three multifamily properties in Michigan, South Carolina and Florida. Dirk Falardeau and David Pyc of KeyBank structured the fixed-rate refinancing on behalf of the borrower, The Benchmark Group, a New York-based real estate developer, investor and manager. The properties include Autumn Woods in Sterling Heights, Mich.; Huntington Place in Columbia, S.C.; and Village at University Square in Tampa, …

PMZ Realty Arranges $70M Financing for Two Hotel Properties in Charleston, Augusta

CHARLESTON, S.C. AND AUGUSTA, GA. — PMZ Realty Capital LLC has arranged $70 million in joint venture equity and debt financing to recapitalize two hotels in Charleston and Augusta. The properties include the Holiday Inn Express Charleston Downtown – Medical Center in Charleston and The Partridge Inn Augusta Curio Collection by Hilton in Augusta. Rio Partners is the owner of the properties, and the firm plans to use the proceeds from the two separate transactions to pay off existing debt and …

IMG Purchases 242-Unit Tapestry at Hollingsworth Park Apartments in Greenville

GREENVILLE, S.C. — Investors Management Group Inc. (IMG) has purchased the Tapestry at Hollingsworth Park, a 242-unit apartment property located at 201 Rocky Slope Road in Greenville. Raia Properties sold the community for an undisclosed price. Andrea Howard of NorthMarq represented both the buyer and seller in the transaction. NorthMarq also provided a Freddie Mac acquisition loan to IMG.Built in 2013, Tapestry at Hollingsworth Park includes 19 buildings with one-, two- and three-bedroom …

Berkadia Negotiates $19.5M Sale of Multifamily Property in Charleston

CHARLESTON, S.C. — Berkadia has negotiated the $19.5 million sale of Oasis at West Ashley, a garden-style multifamily property in Charleston. Mark Boyce and Blake Coffey of Berkadia led the transaction on behalf of the seller, New York-based URS Capital Partners. The buyer was not disclosed.Built in 1979, Oasis at West Ashley features 116 units with newly renovated kitchens, walk-in closets and select units with patio or balcony options. The apartment community sold for a per-unit price …

Cushman & Wakefield Brokers $105.6M Sale of Industrial Portfolio in Upstate South Carolina

DUNCAN, S.C. — Cushman & Wakefield has brokered the $105.6 million sale of the Apple Valley Industrial Portfolio, a four-building portfolio of industrial facilities in the Upstate South Carolina market of Duncan. An affiliate of Lexington Realty Trust purchased the facilities from Panattoni and PCCP.Stewart Calhoun and Casey Masters of Cushman & Wakefield, along with Marcus Cornelius of CBRE and Ryan Koop of Broadstreet Partners, represented the sellers in the transaction.Situated …

JLL Secures Construction Financing for Preserve at Ridgeville Apartments Near Charleston

RIDGEVILLE, S.C. — JLL Capital Markets has secured an undisclosed amount of equity and construction financing for the development of Preserve at Ridgeville Apartments, a 240-unit, garden-style multifamily community near Charleston.Located at 1050 Old Gilliard Road in Ridgeville, the Preserve at Ridgeville will be situated 35.2 miles north of Charleston and 28.1 miles from Charleston International Airport. Once completed, the three-story property will feature a pool, health club with …

Lodging Partners Arranges Sale of Quality Inn & Suites Hotel in Myrtle Beach

MYRTLE BEACH, S.C. — Lodging Partners LLC has arranged the sale of Quality Inn & Suites Myrtle Beach, a 65-room hotel. Lodging Partners represented the undisclosed seller in the transaction. The sales price was not disclosed.The eight-story hotel sold to a regional owner and operator of select-service hotels. The property is located directly across the street from the Atlantic Ocean and 6.7 miles from Family Kingdom Amusement Park and Splashes Water Park and 7.5 miles from the Myrtle …

Montford Group, Opterra Capital Purchase Office Building in Downtown Charleston

CHARLESTON, S.C. — The Montford Group and Opterra Capital have purchased 170 Meeting Street, a 30,000-square-foot office building located in downtown Charleston. The seller and sales price were not disclosed.The five-story property has floor-to-ceiling windows and is fully leased to tenants including Regions Bank and Regus.Currently, Montford Group and Opterra Capital plan to keep the office as is, having a goal to maintain the business banking district in downtown Charleston.Marc …

Standard Communities Buys 108-Unit Affordable Housing Property in North Charleston

NORTH CHARLESTON, S.C. — Standard Communities has acquired Osprey Place Apartments in North Charleston. Built in 2004, the 108-unit affordable housing property located at 2390 Baker Hospital Blvd. North comprises five garden-style apartment buildings situated on 19 acres. Community amenities include a laundry room, playground and off-street parking.The total capitalization of the transaction exceeded $22 million, including over $82,000 per unit in renovation costs. Standard Communities …

CRG, Landmark Break Ground on 678-Bed Student Housing Tower Near USC in Columbia

COLUMBIA, S.C. — CRG and Landmark Properties have broken ground on The Standard at Columbia, a 17-story student housing tower in Columbia. The property will be located on the corner of Washington and Assembly streets close to the University of South Carolina (USC). Construction is slated to be complete in fall 2023.The Standard will include 247 fully furnished units totaling 678 beds. The student housing development will offer a mix of studio, one-, two-, three-, four- and five-bedroom …

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