South Carolina

Berkadia Secures $38M in Refinancing for Apartment Community in Greenville Suburb

by Camren Skelton August 29, 2017

TAYLORS, S.C. — Berkadia has arranged the $38 million refinancing for Cobalt Springs Apartment Homes, a 548-unit, garden-style community located at 1712 Pinecroft Drive in Taylors, a suburb of Greenville. Mitch Sinberg and Matt Robbins of Berkadia arranged the 10-year, floating-rate loan through Freddie Mac’s Green Up Program on behalf of the borrower, The RADCO Cos. The Atlanta-based company originally acquired the asset in 2015 for $33.8 million and installed low-flow toilets and low-flow aerators in kitchen and bathroom sinks. Constructed in 1975 and renovated in 2005, Cobalt Springs offers one-, two- and three-bedroom units and features a business center, coffee bar, pool, clubhouse and laundry facilities.

August 29, 2017

Industrial South Carolina Southeast

Ware Malcomb Delivers 558,000 SF Industrial Property in Metro Charlotte

by Camren Skelton August 28, 2017

ROCK HILL, S.C. — Ware Malcomb, an international commercial real estate design firm, has helped deliver Legacy Park West, a 558,000-square-foot industrial property in Rock Hill, a South Carolina suburb of Charlotte. The development is located roughly one mile from Interstate 77 and includes two speculative industrial buildings, with a third building planned for the future. The one-story buildings feature concrete tilt-up wall panels, insulated steel roof structures and 30- and 32-foot clear heights. Evans General Contractors was the general contractor for the project, and Scannell Properties was the developer.

August 28, 2017

Office South Carolina Southeast

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

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