REBusinessOnline

Henderson Park, South Street Acquire 20,000-Acre Waterfront Resort Near Hilton Head

PALMETTO BLUFF, S.C. — Henderson Park Capital Partners and South Street Partners have formed a joint venture to acquire Palmetto Bluff, a 20,000-acre resort in Bluffton that is surrounded by 32 miles of riverfront. The price was not disclosed.Palmetto Bluff features nature trails; two village centers complete with river access, boat storage and a canoe club; dining options; the Montage Palmetto Bluff resort; and a Jack Nicklaus Signature Golf Course. The land includes available …

3650 REIT Provides $68.5M Refinancing Loan for Patewood Corporate Center in Greenville

GREENVILLE, S.C. — 3650 REIT has provided a $68.5 million loan to refinance Patewood Corporate Center, a six-building, 447,000-square-foot office park located at 10-80 Patewood Drive in Greenville. Joe Hercenberg of Walker & Dunlop arranged the seven-year, fixed-rate loan through JFR Global Investments.The financing brings 3650 REIT to approximately $301.7 million in capital deployed in 2021 year-to-date.Built in 1985 and renovated in 2015, Patewood Corporate Center offers space …

Capstone Brokers $49M Sale of Vantage at Powdersville Apartments in Greenville

GREENVILLE, S.C. — Capstone Apartment Partners has brokered the $49 million sale of Vantage at Powdersville, a 288-unit, garden-style apartment community in Greenville. The property is situated on 22 acres in west Greenville at the intersection of Anderson Road and State Road 153, about 19 miles from Greenville-Spartanburg International Airport and 7.2 miles from downtown Greenville.Caleb Troop, Austin Green and Alex McDermott of Capstone represented the seller, Vantage Communities, in …

Palomar Group Arranges $5.4M Sale of Myrtle Ridge Grocery-Anchored Shopping Center in Conway, South Carolina

CONWAY, S.C. — The Palomar Group has arranged the $5.4 million sale of Myrtle Ridge, a grocery-anchored shopping center located at 1901 Highway 544 in Conway, a town near Myrtle Beach. Palomar Group represented the undisclosed seller, a private shopping center owner, in the off-market transaction. Both the undisclosed buyer and seller are both private companies that primarily own grocery-anchored shopping centers throughout the Southeast.The 59,240-square-foot Myrtle Ridge is anchored by …

McCraney Sells 201,600 SF 85 Logistics Park in Metro Greenville to Pall Corp.

DUNCAN, S.C. — McCraney Property Co. has sold 85 Logistics Park, a 201,600-square-foot, speculative industrial building located on 18.6 acres at 816 Berry Shoals Road in Duncan. This property is the first location in South Carolina for the new owner and buyer, Pall Corp., a global manufacturer of high-tech filtration, separation and purification products servicing the advanced manufacturing, food and life sciences industries. The sales price was not disclosed.The addition of Pall Corp. to …

Lument Provides $15.2M Fannie Mae Refinancing for Multifamily Property in Columbia

COLUMBIA, S.C. — Lument has provided a $15.2 million Fannie Mae loan for a 176-unit, garden-style multifamily community in Columbia. Steven Cox of Lument originated the financing on behalf the undisclosed borrower.The loan refinances existing debt at a low, fixed interest rate. The loan features a 10-year term with full-term interest only payments and a nine-and-a-half-year yield maintenance period. Chuck Cronin of Axiom Capital Corp. arranged the financing.The apartment community …

Sharbell Breaks Ground on Downtown Nexton Mixed-Use Project Near Charleston

SUMMERVILLE, S.C. — New Jersey-based Sharbell Development Corp. has broken ground on Downtown Nexton, an urban-inspired mixed-use development in Summerville. Downtown Nexton will be situated on nearly 100 acres between Sigma Drive and Brighton Park Boulevard, about 24 miles away from Charleston. Upon completion, Downtown Nexton will provide retail, dining, hospitality, residential, service, office and commercial options.The first phase of the Downtown Nexton project is slated to be …

Frampton Construction Completes 110,000 SF Office Building in Charleston

CHARLESTON, S.C. — Frampton Construction Co. LLC, a full-service construction firm, has completed work on The Quin, a five-story office building located at 1940 Algonquin Road in Charleston. White Point is the developer for the project, and JLL is handling the leasing of the building.The Quin is a 110,000-square-foot, Class A property that sits on a four-acre site and features a four-story, 125,748-square-foot parking deck with approximately 300 spaces. Located at Meeting Street and …

Arch Cos., Drake Real Estate Partners Acquire Four-Property Multifamily Portfolio in Columbia

COLUMBIA, S.C. — In a joint venture partnership, Arch Cos. and Drake Real Estate Partners have acquired a four-property portfolio of garden-style multifamily properties in Columbia totaling 672 units. Walker & Dunlop financed the acquisition. The sale and loan amount were not disclosed.The portfolio includes the 240-unit Austin Woods apartment located at 7648 Garners Ferry Road; the 200-unit Harbour Landing at 7625 Garners Ferry Road; the 120-unit Mallard Pointe located at 1101 …

Ready Capital Closes $8.4M Acquisition Financing for Multifamily Property in Columbia

COLUMBIA, S.C. — Ready Capital has closed the financing for the acquisition, renovation and stabilization of a 152-unit, Class C multifamily property in southeast Columbia. Upon acquisition, the sponsor will implement a capital improvement plan to renovate unit interiors and refine curb appeal. The sponsor also plans to address deferred maintenance issues that will help facilitate stabilization.The non-recourse, interest-only, floating-rate loan features a 36-month term, two extension …

Content Partners
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Walker & Dunlop

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