South Carolina

Colliers International Arranges $29M Sale of Office Tower in Columbia

by Camren Skelton July 12, 2017

COLUMBIA, S.C. — Colliers International has arranged the $29 million sale of Wells Fargo Tower, a 264,857-square-foot office tower located at 1441 Main St. in Columbia. Mark De Riemer of Colliers International brokered the sale to Atlanta-based Glenfield Capital on behalf of the seller, Franklin Street Properties Corp. The Class A building was 79 percent leased at the time of sale to 17 tenants including Wells Fargo, GSA, Centene and Accenture. Glenfield Capital has retained Tommy Johnson and David Lockwood of Colliers International to handle the leasing assignment for Wells Fargo Tower.

July 12, 2017

Loans Multifamily North Carolina South Carolina Southeast

Hunt Mortgage Provides $51.5M in Refinancing for Two Multifamily Properties in Carolinas

by Camren Skelton July 11, 2017

CHARLOTTE, N.C. AND COLUMBIA, S.C. — Hunt Mortgage Group has provided $51.5 million in financing for two apartment communities in the Carolinas — $31.9 million for the refinancing of Highlands at Alexander Pointe in Charlotte and $19.6 million for the refinancing of Carrington Place at Wildewood in Columbia. Hunter Mortgage Group arranged the seven-year, adjustable-rate loans through Freddie Mac on behalf of the borrower, an undisclosed national real estate fund. Built in 2002, Highlands at Alexander Pointe features a fitness center, clubhouse, grill area, pool, laundry center and a dog park. Constructed in 2005, Carrington Place at Wildewood includes a fitness center, grill area, pool, laundry center, playground and a dog park.

July 11, 2017

Hospitality Loans North Carolina South Carolina Southeast

The Carlton Group Secures $55M in Acquisition Financing for Hotel Portfolio in Carolinas

by Camren Skelton July 6, 2017

NEW YORK — The Carlton Group has arranged approximately $55 million of equity and debt for a 511-room hotel portfolio acquisition in North and South Carolina. Comprising five hotels branded by Marriott, IHG and Choice flags, the portfolio is located in North Myrtle Beach, S.C., and the North Carolina metros of Charlotte, Gastonia, Goldsboro and Wilmington. Michael Campbell, Steven Weiss and Steven Fenster of Carlton secured a roughly $36.5 million first mortgage and $8 million of preferred equity from a West Coast wealth manger, as well as $9 million of common equity from an undisclosed investor. The undisclosed hotel manager also invested capital along with the sponsors.

July 6, 2017

Industrial South Carolina Southeast

Samsung to Open $380M Home Appliance Manufacturing Plant in South Carolina

by Camren Skelton June 29, 2017

NEWBERRY, S.C. — Samsung plans to open a $380 million home appliance manufacturing plant in Newberry, roughly halfway between Greenville and Columbia, S.C. The project is expected to produce 954 jobs, including craftsmen, operators, engineers and other technical and non-technical positions, by 2020. Samsung already operates a call center in Greenville that supports 800 full time and contracted jobs. The Newberry plant is the latest in a series of investments over the past 18 months totaling $10 billion that will expand Samsung’s U.S. holdings and operations.

June 29, 2017

Industrial South Carolina Southeast

Monmouth Real Estate Acquires Industrial Building in South Carolina for $21.9M

by Camren Skelton June 28, 2017

AIKEN, S.C. — Monmouth Real Estate Investment Corp. has purchased a 315,560-square-foot industrial building located at 1103 Powderhouse Road in Aiken for $21.9 million. The Class A facility is situated on approximately 24 acres and is net-leased for 15 years to Autoneum North America Inc., a supplier of acoustic and thermal parts for the automotive industry.

June 28, 2017

Multifamily South Carolina Southeast

Woodfield Investments Delivers Multifamily Asset Near Charleston

by Camren Skelton June 23, 2017

SUMMERVILLE, S.C. — Woodfield Investments has opened The Passage, an apartment community located at 100 Underwood Drive in Summerville, roughly 20 miles northwest of Charleston. The 240-unit community includes studio, one-, two- and three-bedroom options, as well as amenities including a dog park, horseshoe pit, bocce ball, open-air cabanas and a saltwater pool featuring an in-pool sun shelf. The Passage’s fitness center includes yoga and spin studios, as well as instructor-led classes. CF Real Estate Services manages the community.

June 23, 2017

Multifamily South Carolina Southeast

Middle Street Partners Breaks Ground on $48M Apartment Community in Charleston

by John Nelson June 21, 2017

CHARLESTON, S.C. — Middle Street Partners, a Charleston-based development and investment firm, has broken ground on The Atlantic at Grand Oaks, a 316-unit apartment community located along Ashley Gardens Boulevard in Charleston. Total project costs are estimated at $48 million. The property will feature 16 two- and three-story walk-up residential buildings and a 7,000–square-foot clubhouse overlooking a resort-style pool. Other amenities will include a fitness studio, business cafe and community kitchen. The Jacksonville, Fla. -based general contractor Live Oak Contracting expects to complete the property in October 2018.

June 21, 2017

Mixed-Use Office South Carolina Southeast

CBRE Secures $35.5M in Financing for Mixed-Use Developments in Charleston

by Camren Skelton June 19, 2017

CHARLESTON, S.C. — CBRE has arranged $35.5 million in financing for Half Mile North and Pacific Box & Crate, two mixed-use projects on the Charleston peninsula. CBRE’s Jeff Ackemann and Porter McDonald arranged the permanent mortgage through Nationwide Real Estate Investments on behalf of the borrower, Raven Cliff Co. LLC. In 2016, the CBRE team secured a $35 million construction loan to recapitalize the Half Mile North Development and provide construction financing for the Pacific Box & Crate project. Together, the developments encompass 222,113 square feet of office space and chef-driven food options. The projects were 97 percent leased at the time of sale. SIB, Integral Solutions Group, BoomTown!, Phish Labs and Blue Acorn are among the developments’ current tenants.

June 19, 2017

Multifamily South Carolina Southeast Student Housing

Broadstreet Partners Sells Student Housing Community Near Clemson University for $8M

by Camren Skelton June 19, 2017

CLEMSON, S.C. — Broadstreet Partners has sold The Farm at Clemson, a newly built, 105-bed student housing property located near the Clemson University campus in South Carolina, for $8 million. The property features 35 cottage-style homes, a clubhouse, basketball and turf volleyball courts and bicycle parking. The community was developed and completed in July 2016. The property was acquired by Palm Beach-based Calidus Holdings and will continue to be managed by CollegeTown Properties.

June 19, 2017

Florida Mixed-Use South Carolina Southeast

Partnership to Develop Two Latitude Margaritaville Projects in Daytona Beach, Hilton Head

by John Nelson June 12, 2017

DAYTONA BEACH, FLA. AND HILTON HEAD, S.C. — A partnership between Sutton Properties, Margaritaville Holdings and Minto Communities plans to develop two Latitude Margaritaville projects in Daytona Beach and Hilton Head. Both developments will feature Margaritaville restaurants, an island-inspired food and beverage concept that launched in 1987 in Key West, Fla. The Daytona Beach community is currently under construction with 3,000 residences, and a future proposed expansion of up to 7,000 homes catering to residents 55 years and up. Sutton Properties is preleasing a total of 200,000 square feet of retail space at the entrance to Latitude Margaritaville on LPGA Blvd, just west of Interstate 95. The first phase will include a supermarket, along with retailers and restaurants. At the Hilton Head development, Margaritaville Holdings and Minto have broken ground on more than 3,000 homes on 2,739 acres. Sutton Properties acquired 72 acres for a three-phase, mixed-use development. Phase I will be located on Highway 278 at the community entrance located in Hardeeville, between I-95 and Hilton Head Island. Phase I will include a supermarket and other retail and restaurant tenants, and Phase II includes a hotel opportunity, followed by a mixed-use town center. The first homes at both developments …

June 12, 2017

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