South Carolina

Cushman & Wakefield Arranges $23.8M Sale of Office Building in Downtown Charleston

by Alex Tostado September 22, 2020

CHARLESTON, S.C. — Cushman & Wakefield has arranged the $23.8 million sale of 134 Meeting Street, a 71,947-square-foot office building in downtown Charleston. The asset was 93 percent leased at the time of sale to tenants including law firms K&L Gates and Sinkler & Boyd. The building was renovated in 2015 to include a new HVAC system; upgraded lobbies, restrooms and common corridors; and a 1,702-square-foot fitness center with showers. Jared Londry, Rob Cochran and Nolan Ashton of Cushman & Wakefield represented the seller, Cobalt Property Group, in the transaction. Highland Ventures, a separate account client of Insite Properties, acquired the property.

September 22, 2020

Development Multifamily South Carolina Southeast

Alliance Residential to Develop 336-Unit Multifamily Community in North Charleston

by Alex Tostado September 16, 2020

NORTH CHARLESTON, S.C. — Alliance Residential Co. will develop Broadstone Ingleside, a 336-unit multifamily community in North Charleston. The Phoenix-based developer recently closed on the acquisition of a 24-acre parcel situated at 8400 Palmetto Commerce Parkway, 20 miles northwest of downtown Charleston. The property will offer one-, two- and three-bedroom floor plans averaging 926 square feet. Communal amenities will include a pool, fitness center, coworking space and a walking trail. Cline Design Associates is the architect, and Seamon Whiteside is the civil engineer. Alliance Residential expects to open the community in fall 2021.

September 16, 2020

Loans Multifamily Seniors Housing South Carolina Southeast

Cushman & Wakefield Arranges $37.1M Refinancing Loan for New Seniors Housing Community in Charleston

by Alex Tostado September 14, 2020

CHARLESTON, S.C. — Cushman & Wakefield has arranged a $37.1 million refinancing loan for Wellmore of Daniel Island, an assisted living, memory care and skilled nursing community in Charleston. Wellmore of Daniel Island is a 186-unit, 198-bed community that opened in 2018. It is located within the Daniel Island area, near downtown Charleston and overlooking the Daniel Island Club Beresford Creek golf course. Truist Financial provided the loan to the borrower and owner, an affiliate of Maxwell Group. The Cushman & Wakefield Senior Housing Capital Markets team involved in the transaction included Richard Swartz, Tim Hosmer and Chris Remeika.

September 14, 2020

Acquisitions Multifamily South Carolina Southeast Top Stories

Passco Acquires 330-Unit Multifamily Community in Coastal South Carolina for $78M

by Katie Sloan September 11, 2020

BLUFFTON, S.C. — Passco Cos. has acquired One Hampton Lake, a 330-unit multifamily community located seven miles outside Hilton Head Island in Bluffton, for $78 million. Southeastern Co. sold the property in an off-market transaction. One Hampton Lake was developed in two phases, with the first phase of construction completed in 2018 and the second phase completed earlier this year. The garden-style property offers one-, two- and three-bedroom units with quartz countertops, stainless steel appliances, in-unit washers and dryers, patios and balconies. Shared amenities at the community include a resort-style infinity pool and deck; kayak launch site and storage on Hampton Lake, located adjacent to the property; pet park and wash station; state-of-the-art fitness center; screened-in outdoor lounge with a fireplace; an outdoor kitchen; and grilling areas. Greystar will continue to manage the property under the new ownership. Chris Black and Caleb Marten of KeyBank Real Estate Capital arranged acquisition financing on behalf of Passco. Headquartered in Augusta, Georgia, Southeastern Co. offers development, property management, construction management and brokerage services for commercial real estate properties across the Southeast. Irvine, California-based Passco Cos. acquires, develops and manages multifamily and commercial real estate throughout the United States. The company currently has a …

September 11, 2020

Acquisitions Multifamily South Carolina Southeast

Greystone Brown Negotiates $54.1M Sale of Multifamily Community Near Hilton Head

by Alex Tostado September 3, 2020

PORT ROYAL, S.C. — Greystone Brown Real Estate Advisors has negotiated the $54.1 million sale of Preserve at Port Royal, a 400-unit multifamily community in Port Royal. The property, which was built in 2006, offers one- and two-bedroom floor plans. Communal amenities include a fitness center, two pools, library, two business centers, playground, dog park, storage units, car care center, laundry center, two outdoor kitchens with grilling areas and a bird sanctuary. The asset is situated at 1 Preserve Ave. W., 30 miles north of Hilton Head Island. Jim Jarrell, Steve Mack and Walter Miller of Greystone Brown represented the seller, Norcross, Ga.-based Prominent Realty Group, in the transaction. The buyer was not disclosed.

September 3, 2020

Acquisitions Healthcare Office South Carolina Southeast

Stan Johnson Co. Arranges $30.5M Sale-Leaseback of Medical Office Portfolio in Upstate South Carolina

by Alex Tostado September 1, 2020

GREENVILLE, EASLEY AND SIMPSONVILLE, S.C. — Stan Johnson Co. has arranged the $30.5 million sale-leaseback of a four-property medical office portfolio in Upstate South Carolina. The properties are situated at 5 Stevens St. and 601 Halton Road in Greenville, 220 S. Pendleton St. in Easley and 1 Colony Centre Way in Simpsonville. Teresa Lovely and Jeff Matulis of Stan Johnson Co. represented the seller and tenant, Jervey Eye Group, which executed long-term leases at the time of sale. Indiana-based Cornerstone Cos. Inc. acquired the portfolio, which was built between 2000 and 2018.

September 1, 2020

Acquisitions Industrial South Carolina Southeast

Sealy Purchases 1.2 MSF Industrial Portfolio in Greenville from Blackstone

by Alex Tostado August 25, 2020

GREENVILLE, S.C. — Sealy & Co. has acquired an eight-property industrial portfolio totaling 1.2 million square feet in Greenville. Blackstone sold the portfolio for an undisclosed amount. All eight buildings were fully leased to national and international companies at the time of sale. This is the first purchase in South Carolina for Dallas-based Sealy. Scott Sealy Jr., Jason Gandy and Christopher Martin of Sealy worked with Trey Barry of CBRE to acquire the assets.

August 25, 2020

Development Industrial South Carolina Southeast

Silverman Group to Develop 520,000 SF Spec Industrial Building in Metro Charleston

by Alex Tostado August 19, 2020

SUMMERVILLE, S.C. — The Silverman Group will develop a 520,000-square-foot speculative industrial building within Foreign Trade Zone industrial park in Summerville. The cross-dock building will feature 36-foot clear heights, 76 dock doors, an ESFR sprinkler system, 120 trailer parking spaces and 485 parking spaces for vehicles. The building will be located near Interstate 26 and 27 miles northwest of the Port of Charleston. Silverman Group expects to begin site work in September and deliver the property in spring 2021. Bob Barrineau and Brendan Redeyoff of CBRE are handling leasing efforts on behalf of the developer.

August 19, 2020

Acquisitions Multifamily South Carolina Southeast

Marcus & Millichap Brokers $25.5M Sale of Multifamily Community in Columbia

by Alex Tostado August 17, 2020

COLUMBIA, S.C. — Marcus & Millichap has brokered the $25.5 million sale of 34 Crestmont Apartments, a 250-unit multifamily community in Columbia. Built in 2003, the property offers one-, two- and three-bedroom floor plans. Communal amenities include a clubhouse, pool, sundeck, fitness center, breakfast/coffee concierge and a picnic area. The asset is located at 34 Woodcross Drive, 10 miles northwest of downtown Columbia and the University of South Carolina. Drew Babcock of Marcus & Millichap brokered the transaction between the buyer, Southwood Realty, and the undisclosed Charleston, S.C.-based seller.

August 17, 2020

Development Multifamily Seniors Housing South Carolina Southeast

Watercrest, Waypoint Deliver 107-Unit Seniors Housing Community Near Charlotte

by Alex Tostado August 17, 2020

INDIAN LAND, S.C. — Watercrest Senior Living Group and equity partner Waypoint Residential have opened Watercrest Fort Mill-Indian Land Assisted Living and Memory Care. The seniors housing community is located in Indian Land, 20 miles south of Charlotte just across the North Carolina-South Carolina border. The property features 75 assisted living units and 32 memory care units. General contractor Shiel Sexton built the community, which is the second senior living development partnership between Watercrest Senior Living Group and Waypoint Residential. The first project, Watercrest Newnan Assisted Living and Memory Care, recently opened in Newnan, Ga.

August 17, 2020

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