South Carolina

Insite Properties, Eastern Federal Buy Two Office Properties in Charleston for $21.5M

by Camren Skelton August 24, 2017

CHARLESTON, S.C. — Charlotte, N.C.-based firms Insite Properties and Eastern Federal Corp. have acquired two office buildings in Charleston: the 74,000-square-foot Albemarle Point Center, located at 176 Croghan Spur Road, and an adjacent 11,000-square-foot flex-space property located at 238 Albemarle Road. The sales price was not disclosed, but The Post and Courier reports the buildings sold for $19.5 million and $2 million, respectively. The companies will implement renovations to the buildings, including updating the building exterior and internal common areas.

August 24, 2017

Multifamily South Carolina Southeast

SVN Blackstream Arranges $12.1M Sale of Multifamily Asset in North Charleston

by Camren Skelton August 23, 2017

NORTH CHARLESTON, S.C. — Greenville, S.C.-based SVN Blackstream has brokered the $12.1 million sale of Alston Arms Apartments, a 160-unit multifamily community in North Charleston. Joey Weinel, Jonathan Kessler and Keith Nelson of SVN Blackstream negotiated the transaction on behalf of the seller. The buyer was not disclosed. Constructed in 2007, the property comprises two-bedroom units and is situated on 8.7 acres.

August 23, 2017

Hospitality South Carolina Southeast

Legacy Suites Opens $11M Hotel in Metro Charlotte

by Camren Skelton August 21, 2017

ROCK HILL, S.C. — Legacy Suites has opened a new hotel at 1835 Canterbury Glen Lane in Rock Hill, a South Carolina suburb of Charlotte. Built by MC Hotel Construction, the $11 million, four-story hotel comprises 64,000 square feet and includes 115 rooms. The extended-stay hotel features a kitchen and full-size appliances. Amenities include a gathering room, fitness center, laundry facilities, barbeque grills and a picnic area. MC Hotel Construction’s sister company, Midas Hospitality, will manage the new property. The Rock Hill location is the second Legacy Suites hotel in the country, the other being in Donaldsonville, La. A third Legacy Suites location is slated to open in Greenville, S.C., in summer 2018.

August 21, 2017

Multifamily South Carolina Southeast

Cushman & Wakefield Arranges $22.6M Sale of Apartment Community in North Charleston

by Camren Skelton August 16, 2017

NORTH CHARLESTON, S.C. — Cushman & Wakefield has brokered the $22.6 million sale of Plantation Flats, a 226-unit multifamily community in North Charleston. Watson Bryant, Tai Cohen and Paul Marley of Cushman & Wakefield represented the seller, URS Capital Partners, in the transaction. Miami-based Monument Real Estate Services acquired the property. Constructed in 1984, Plantation Flats features a swimming pool, business center, tennis court, picnic area and a fitness center. The property was 92 percent occupied at the time of sale.

August 16, 2017

Multifamily Seniors Housing South Carolina Southeast

Frampton Construction Delivers 100-Unit Seniors Housing Community Near Charleston

by Camren Skelton August 16, 2017

SUMMERVILLE, S.C. — Frampton Construction Co. LLC has finished development of The Blake at Carnes Crossroads, a 100-unit seniors housing community in Summerville, roughly 25 miles northwest of Charleston. The 84,000-square-foot building will include assisted living and memory care suites. The Blake is situated on 3.7 acres within the master-planned Carnes Crossroads community, developed by Daniel Island Co. The development features medical offices, retail, restaurants, a school, parks and a church. Frampton Construction partnered with Cardinal Ventures, along with its management company Blake Management Group, to develop The Blake.

August 16, 2017

Office South Carolina Southeast

Holder Properties Sells 18-Story Office Building in Downtown Columbia for $65M

by Camren Skelton August 10, 2017

COLUMBIA, S.C. — Holder Properties has sold Main and Gervais, an 18-story, 186,000-square-foot office building located at 1221 Main St. in downtown Columbia. The sales price was not disclosed, but The State reports California-based KBS Realty Advisors purchased the asset for $65 million. Patrick Gildea, Matt Smith, Justin Parsonnet, Martin Moore and Aaron Dupree of CBRE represented Holder Properties in the transaction. The Class A office tower is Energy Star-certified and features The Oak Table restaurant and a fitness center. At the time of sale, Main and Gervais was 98 percent leased to tenants including Edens, NBSC/Synovus Bank, McNair Law Firm, Womble Carlyle, Rogers Townsend and Parker Poe. Holder Properties will continue to manage the property and handle the leasing assignment on behalf of KBS Realty Advisors.

August 10, 2017

Multifamily South Carolina Southeast

Monument Capital Management Acquires 222-Unit Apartment Community in North Charleston

by Camren Skelton August 9, 2017

NORTH CHARLESTON, S.C. — Monument Capital Management has purchased Plantation Flats, an apartment community located at 2181 Dunlap St. in North Charleston. The property comprises 32 two-story buildings with one- and two-bedroom, garden-style and townhouse floor plans. The community also features a clubhouse, swimming pool, fitness center, laundry center and a tennis court. Plantation Flats is situated across from Trident Technical College and is roughly four miles north of Charleston International Airport, home to The Boeing Co. Monument Real Estate Services, an affiliate of Monument Capital Management, will manage the property. The sales price and seller were not disclosed.

August 9, 2017

Multifamily Seniors Housing South Carolina Southeast

Dominion Breaks Ground on $10M Seniors Housing Community in Clemson

by Camren Skelton August 1, 2017

CLEMSON, S.C. — Dominion Senior Living has broken ground on Dominion Senior Living at Patrick Square, a $10 million, 50,000-square-foot seniors housing community located at 100 Pershing Ave. in Clemson. The two-story, faith-based community will have 40 assisted living apartments and 17 apartments designed for memory care. Dominion Senior Living at Patrick Square is slated to open in fall 2018, bringing roughly 50 new jobs to the Clemson area. The property is Dominion’s second asset in South Carolina.

August 1, 2017

Retail South Carolina Southeast

Preferred Apartment Communities Acquires 99,384 SF Shopping Center Near Columbia

by Camren Skelton July 31, 2017

IRMO, S.C. — Preferred Apartment Communities (PAC) has purchased Irmo Station, a 99,384-square-foot, Kroger-anchored shopping center in Irmo, roughly 12 miles northwest of Columbia. PAC acquired the asset through its wholly owned subsidiary New Market Properties LLC, and financed the acquisition using a $10.7 million, non-recourse loan from Nationwide Mutual Insurance Co. The loan features a fixed 3.9 percent interest rate and matures in 2030. Located approximately one mile off Interstate 26, Irmo Station is anchored by a 56,942-square-foot Kroger grocery store. The acquisition marks New Market Properties’ 34th grocery-anchored shopping center across seven states.

July 31, 2017

Multifamily South Carolina Southeast

Wood Partners Breaks Ground on 329-Unit Apartment Community Near Charleston

by Camren Skelton July 28, 2017

SUMMERVILLE, S.C. — Wood Partners has broken ground on Alta Brighton Park, a 329-unit multifamily community in Summerville, roughly 25 miles northwest of Charleston. Located within Nexton, a mixed-use community, the Class A apartment property will feature a saltwater swimming pool, fitness center, resident library and business center. The apartment community is slated to begin leasing in summer 2018.

July 28, 2017

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