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South Carolina

LoansMultifamilySouth CarolinaSoutheast

Dwight Capital Finances $24.5M HUD-Insured Loan for Wellspring Apartments in Columbia, South Carolina

by John Nelson

COLUMBIA, S.C. — Dwight Capital has financed a $24.5 million HUD 223(f) loan for Wellspring Apartments, a 232-unit, garden-style multifamily community located in Columbia. This loan qualifies for a reduced Green Mortgage Insurance Premium (MIP) totaling 25 basis points. The undisclosed borrower will use the loan to retire existing debt, close costs, fund the replacement reserve account and complete necessary repairs. Keith Hoffman and Aaron Kirshtein of Dwight Capital originated the loan. The apartment community consists of one-, two- and three-bedroom units, and amenities include a clubhouse, leasing office, walking trails, grilling areas, fitness center, valet trash service and a resort-style pool.

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AcquisitionsIndustrialNorth CarolinaSouth CarolinaSoutheast

Indus Realty Trust Acquires Majority Interest in 4.3 MSF Carolinas Industrial Portfolio from Childress Klein

by John Nelson

NEW YORK CITY — Indus Realty Trust, an industrial owner-operator based in New York, has purchased the majority interest in a logistics portfolio in the Carolinas from Charlotte-based Childress Klein. The 4.3 million-square-foot logistics portfolio spans 21 properties. The transaction amount was not shared, but the Indus Realty Trust investment puts the value of the portfolio at $575 million. Childress Klein will retain a minority stake and continue to operate and lease the properties. Eastdil Secured represented Childress Klein in arranging the transaction. The Carolinas portfolio was 94 percent occupied at the time of the recapitalization. Sixteen of the porftolio’s buildings are located in the metro Charlotte region and five buildings are in the greater Charleston market. The portfolio features a mix of last-mile and bulk facilities that average 205,000 square feet in size and 13 years in age.

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DevelopmentLoansSouth CarolinaSoutheastStudent Housing

JLL Secures Construction Financing, Equity for 168-Unit Student Housing Development Near Clemson University

by John Nelson

CLEMSON, S.C. — JLL has secured construction financing and an equity placement for Hartwell Ridge, a 168-unit student housing development located near the Clemson University campus in South Carolina. Jeremy Sain, Teddy Leatherman and Lauren Dow of JLL represented the borrower, Fountain Residential Partners, in arranging the equity placement through FrontRange Capital and Atlantic American Partners. BankUnited provided the construction loan for the project. Located at 10920 Clemson Blvd., the community will offer fully furnished units in studio through five-bedroom configurations, including two-story townhomes. Shared amenities will include a swimming pool, clubhouse, strength training and cardio center and multiple private study rooms. Van Winkle Construction is acting as general contractor for the project, which is scheduled for completion in fall 2026.

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AcquisitionsSouth CarolinaSoutheastStudent Housing

Inland Acquisitions Buys 673-Bed Student Housing Community Near University of South Carolina

by John Nelson

COLUMBIA, S.C. — Inland Real Estate Acquisitions has purchased the Sawyer on Lincoln, a 673-bed student housing community located adjacent to the University of South Carolina campus in Columbia. Inland acquired the newly delivered property on behalf of an affiliate. The seller and sales price were not disclosed. Delivered in 2023, the 277-unit Sawyer on Lincoln features one-, two- and three-bedroom, fully furnished apartments with bed-to-bath parity. Shared amenities include private and group study rooms, a 24-hour fitness center, gated resident parking garage with 525 parking spaces, package locker system for parcels, social lounge with kitchen and TVs, resort-style pool with lounge seating and a hot tub and an outdoor courtyard with games. The Sawyer on Lincoln was fully occupied at the time of sale.

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IndustrialLeasing ActivitySouth CarolinaSoutheast

Dalfen Industrial Signs Building Materials Supplier to 154,440 SF Lease in Greenville

by John Nelson

GREENVILLE, S.C. — Dallas-based Dalfen Industrial has signed an unnamed building materials supply company to a 154,440-square-foot lease at Upstate Trade Center, a 266,760-square-foot industrial building in Greenville. The facility is located two miles from I-185 and 3.5 miles from I-85. Rich Commercial Realty represented the tenant in the lease transaction.

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AcquisitionsIndustrialSouth CarolinaSoutheast

JLL Brokers Sale of 158,340 SF Distribution Facility in Summerville, South Carolina

by John Nelson

SUMMERVILLE, S.C. — JLL has brokered the sale of Jedburg Logistics Park – Building 2, a 158,340-square-foot distribution facility located at 237 Jedburg Road in Summerville, a suburb of Charleston. Clarion Partners purchased the newly constructed facility from a partnership between Trinity Capital Advisors and Hartford Investment Management Co. The sales price was not disclosed. The property was fully leased at the time of sale to an unnamed global e-commerce company and features 32-foot clear heights, ESFR sprinklers and parking for automobiles and trailers.

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DevelopmentIndustrialSouth CarolinaSoutheast

Appian Investments Completes 621,468 SF Industrial Building in Laurens, South Carolina

by John Nelson

LAURENS, S.C. — Appian Investments, a real estate investment group founded by commercial real estate services firm NAI Earle Furman, has completed a new 621,468-square-foot industrial building in Laurens. The speculative facility is situated along the I-385 corridor within Hunter Industrial Park, a logistics campus in the Upstate South Carolina region. Laurens County Development Corp. partnered with Appian Investments on the cross-dock development, which features 40-foot clear heights, 2,500 square feet of office space, 54- by 50-foot column spacing, 136 exterior dock doors, four drive-in bays, 186 trailer storage spaces and 468 automobile parking spaces. Hunter Garrett, John Staunton and Josh Kenyon of NAI Earle Furman are marketing the facility for lease or sale. Tom Daniel and James Malm of NAI Earle Furman were part of the construction team.

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AcquisitionsRestaurantRetailSouth CarolinaSoutheast

Marcus & Millichap Brokers Sale of New Restaurant in Boiling Springs, South Carolina Leased to Whataburger

by John Nelson

BOILING SPRINGS, S.C. — Marcus & Millichap’s Taylor McMinn Retail Group has brokered the sale of a new restaurant in Boiling Springs, a city about eight miles northwest of Spartanburg, S.C. Texas-based burger chain Whatburger occupies the restaurant on a 15-year, corporate-guaranteed ground lease with planned rental increases and extension options for the tenant. Built on 1.5 acres earlier this year, the 3,318-square-foot restaurant serves as an outparcel to a Target-anchored shopping center. Don McMinn of Marcus & Millichap represented the seller, a developer based in Tennessee, in the sale. The buyer was an all-cash exchange investor. “This is our second Whataburger closing this month, and we are closing another one in Atlanta in December,” says McMinn. “Whataburgers continues to garner strong demand and attractive pricing from investors and are one of the more desirable QSR options in the market today.”

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DevelopmentIndustrialSouth CarolinaSoutheast

Portman, CapitaLand Ascendas REIT Break Ground on 549,000 SF Industrial Park Near Charleston

by John Nelson

SUMMERVILLE, S.C. — A partnership between Portman and CapitaLand Ascendas REIT has broken ground on Summerville Logistics Center, a two-building industrial campus located along U.S. Highway 78 in Summerville, a Charleston suburb within Dorchester County. The site will include two rear-load facilities — one 313,000 square feet and the second 236,000 square feet — with a shared truck court that will be constructed simultaneously. The park will be situated near I-26 and roughly 25 miles from the Port of Charleston. Truist Bank is providing an undisclosed amount of construction financing, and Lee & Associates will lead the leasing efforts for Summerville Logistics Center. The project team also includes general contractor Frampton Construction, civil engineer Seamon Whiteside and architect McMillan Pazdan Smith. Portman and CapitaLand Ascendas REIT plan to deliver Summerville Logistics Center by the end of 2025.

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AcquisitionsSouth CarolinaSoutheastStudent Housing

Campus Advantage, Tramview Capital Acquire 700-Bed Student Housing Community Near University of South Carolina

by John Nelson

COLUMBIA, S.C. — A joint venture between Campus Advantage and Tramview Capital Management has acquired Alight Columbia, a 700-bed student housing community located near the University of South Carolina campus in Columbia. The new ownership plans to rebrand the 206-unit property as “The Radley.” The community offers a mix of two- and four-bedroom units alongside shared amenities including a fitness center, swimming pool, outdoor grilling station, tennis courts, basketball and sand volleyball courts, resident clubhouse and a business center.

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