South Carolina

MCR Acquires 138-Room Courtyard by Marriott North Charleston Hotel

by John Nelson September 7, 2023

NORTH CHARLESTON, S.C. — New York City-based MCR has purchased Courtyard by Marriott North Charleston, a 138-room hotel located at 7465 Northside Drive in North Charleston. The four-story property represents MCR’s fourth hotel in South Carolina. The seller and sales price were not disclosed. Built in 2019, the hotel is situated near Charleston International Airport and features The Bistro restaurant and bar, a grab-and-go market, outdoor pool and fire pit, fitness center, 24-hour business center and 1,184 square feet of meeting space.

September 7, 2023

Acquisitions Single-Family Rental South Carolina Southeast

Cushman & Wakefield Brokers $10.3M Sale of Single-Family Rental Community on Hilton Head Island

by John Nelson September 7, 2023

HILTON HEAD ISLAND, S.C. — Cushman & Wakefield has brokered the $10.3 million sale of Tidal Bluff, a 30-unit single-family rental (SFR) residential community on Hilton Head Island. Built in 2003, the gated property is situated along tidal marshes with proximity to the beach, Publix, Harris Teeter and Starbucks. Louis Smart, Taylor Bird and Austin Green of Cushman & Wakefield represented the seller, Singerman Real Estate LLC, in the transaction. The buyer was an unnamed private investor.

September 7, 2023

Development Loans Multifamily South Carolina Southeast

GBT Realty Obtains $88M Construction Loan for Village at Carnes Crossroads Apartments in Metro Charleston

by John Nelson August 30, 2023

SUMMERVILLE, S.C. — Brentwood, Tenn.-based development firm GBT Realty Corp. has obtained an $88 million construction loan for The Village at Carnes Crossroads, a 306-unit multifamily community in Summerville. The property will be the latest multifamily component for the 2,300-acre Carnes Crossroads master-planned development in metro Charleston. Matt Stewart and Chip Sykes of JLL arranged the loan through Bank of America and Meta Real Estate Partners. The multifamily community will be situated directly across from The Marketplace at Carnes Crossroads, a Publix-anchored shopping center. Set to open first units in spring 2025, The Village at Carnes Crossroads will feature a mix of studio, one-, two- and three-bedroom units. Amenities will include separate small- and large-breed dog parks, a resort-style saltwater pool with lounge deck, outdoor kitchen, club room with catering kitchen and golf stimulator, fitness complex and a coworking center, as well as 11,000 square feet of retail space. The design-build team includes architect Dynamik Design, civil engineer Thomas & Hutton and general contractor Samet Corp.

August 30, 2023

Acquisitions Multifamily South Carolina Southeast

HGI Acquires New Apartment Community in Myrtle Beach, South Carolina for $64.4M

by John Nelson August 28, 2023

MYRTLE BEACH, S.C. — Harbor Group International (HGI) has acquired Artisan Carolina Forest, a 276-unit apartment community located in Myrtle Beach, for $64.4 million. Developed in 2022, the property is located directly off SC Highway 31. Amenities at Artisan Carolina Forest include a swimming pool with a TV lounge and cabanas, dog park, electrical vehicle charging stations, a fitness and yoga center and coworking and conference rooms. John Currin and Andrea Howard of Northmarq brokered the transaction. The seller was not disclosed.

August 28, 2023

Development Mixed-Use Restaurant South Carolina Southeast Student Housing

University of South Carolina, Greystar Open $240M Campus Village Student Housing Project in Columbia

by John Nelson August 24, 2023

COLUMBIA, S.C. — A public-private partnership between the University of South Carolina and Greystar has opened Campus Village, a $240 million residence hall development. Construction on the project, which includes four buildings offering 1,800 beds, began in May 2019. Each six-story building is connected by pedestrian promenades that run alongside green space, courtyards and a clock tower. Beds are offered in pod-style units alongside shared amenities including study and classroom spaces and community kitchens. Campus Village also features a 14,000-square-foot dining hall that seats 650 students; a sundry shop dubbed The Gamecock General Store; retail space leased to Jimmy John’s and Starbucks Coffee; and shuttle service to and from central campus. The development is home to several living-learning communities, including those for information, design and computing; engineering and computing; and entrepreneurship and innovation. The development team for Campus Village included Contract Construction, Juneau Construction and WDG.

August 24, 2023

Development Leasing Activity Mixed-Use Restaurant Retail South Carolina Southeast

RocaPoint Signs New Retail, Restaurant Tenants to Join $1B Greenville County Square Project

by John Nelson August 9, 2023

GREENVILLE, S.C. — RocaPoint Partners has signed three new tenants to join Greenville County Square, a $1 billion mixed-use development coming to downtown Greenville. The new tenants joining the 40-acre development include Pins Mechanical, a duckpin bowling, entertainment and food-and-beverage venue taking 24,366 square feet; Agave Bandido, an authentic Mexican restaurant taking 7,000 square feet; and Fairway Social, a golf-themed entertainment venue and restaurant spanning 9,100 square feet. The tenants are joining a roster that has commitments from Whole Foods Market and The Perch Kitchen & Tap. Other uses include offices for Lima One Capital and a 250,000-square-foot administrative building for Greenville County.

August 9, 2023

Development Mixed-Use Multifamily South Carolina Southeast

Woodfield, Revitate Deliver Mixed-Use Apartment Development at Morrison Yards in Charleston

by John Nelson August 8, 2023

CHARLESTON, S.C. — Woodfield Development has opened Morrison Yards Residences, a mixed-use apartment community located within the larger Morrison Yards master-planned development in Charleston. The property, which features 380 apartments and 27,250 square feet of ground-floor retail space, is located on a five-acre site at 838 Morrison Drive within an opportunity zone. Revitate’s opportunity zone platform RevOz Capital led investment in Morrison Yard, which upon completion will feature a 10-story office building, Kimpton Hotel and 40,000 square feet of retail space, in addition to Morrison Yards Residences. The apartment community includes studios, one-, two- and three-bedroom floor plans, as well as an open-air saltwater pool with sundecks, cabanas, grilling stations and TVs. Other amenities include 1.5 acres of outdoor courtyards, a dog park and a gym with fitness classes. Additionally, the property will be programmed with group gatherings such as wine tastings and cookouts. Rental rates start at $2,264 per month, according to the property website.

August 8, 2023

Development Industrial Loans South Carolina Southeast

Patterson Secures Joint Venture Equity, Debt for Industrial Project in Laurens, South Carolina

by John Nelson August 7, 2023

LAURENS, S.C. — Patterson Real Estate Advisory Group has secured an undisclosed amount of joint venture equity for the development of Building A at Hunter Industrial Park in Laurens, a new industrial development situated roughly 35 miles southeast of Greenville and Spartanburg. The financial intermediary arranged the financing through The Guardian Life Insurance Co. of America on behalf of the borrower, Appian Investments/NAI Earle Furman. Patterson also arranged construction financing through First Carolina Bank on behalf of the borrower. Construction is scheduled to begin immediately.

August 7, 2023

Development Loans Multifamily Seniors Housing South Carolina Southeast Top Stories

Ziegler Arranges $212.9M in Bond Financing for Seniors Housing Project in Coastal South Carolina

by Taylor Williams August 3, 2023

KIAWAH ISLAND, S.C. — Ziegler, a Chicago-based investment bank, has arranged $212.9 million in bond financing for Seafields at Kiawah Island, a seniors housing project in coastal South Carolina. The borrower and developer is a local entity doing business as Kiawah Life Plan Village Inc. BRP Senior Housing Management will operate the property. Sitework is underway, and the development team expects to open the community in fall 2025. Seafields at Kiawah Island will be located on an eight-acre site about 25 miles south of Charleston. This site is adjacent to Freshfields Village, an open-air pedestrian village with a variety of stores, restaurants and entertainment options. The community will feature 90 independent living units and 16 assisted living units. In addition to full-service dining, amenities will include a bar, bistro, outdoor pool, fitness center, yoga studio, salon, wellness center, theater and various multipurpose rooms. The South Carolina Jobs-Economic Development Authority issued the bond financing. Specifically, the package consists of $87.1 million of long-term, fixed-rate bonds and $125.8 million of tax-exempt and taxable securities with mandatory paydown requirements. “Ziegler is very proud to help provide construction financing for Seafields at Kiawah Island in a very challenging capital markets environment,” says Rob Gall, Ziegler’s …

August 3, 2023

Development Industrial South Carolina Southeast

Hunt Midwest Delivers 258,801 SF Industrial Building in Anderson, South Carolina

by John Nelson July 28, 2023

ANDERSON, S.C. — Kansas City-based Hunt Midwest has completed the construction of a speculative industrial building located within Evergreen Logistics Park at I-85 in Anderson. Located at 1105 Scotts Bridge Road, Evergreen Logistics I totals 258,801 square feet and features 32-foot clear heights, 26 dock positions, 32 additional knock outs with capacity for expansion to 48, 60-foot-deep staging bays, LED lighting, an ESFR sprinkler system and speculative office space. The property also includes a 185-foot-deep truck court with 77 trailer parking stalls and 200 vehicle parking spaces. This marks Hunt Midwest’s second industrial project in the Greenville-Spartanburg industrial corridor, following the development of Fort Prince Logistics Center in Lyman, S.C.

July 28, 2023

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