South Carolina

Cardinal Ventures Breaks Ground on 88,000 SF Seniors Housing Community in Metro Columbia

by John Nelson February 22, 2016

ELGIN, S.C. — Cardinal Ventures, a developer based in Mississippi, has broken ground on The Blake at Woodcreek Farms, a seniors housing community located within the 2,300-acre resort-style community of Woodcreek Farms in the Columbia suburb of Elgin. The Blake at Woodcreek Farms will total 88,000 square feet, with a scheduled opening in early 2017. The community will have assisted living and memory care apartments. Development costs and number of units were not disclosed. Blake Management Group will operate the community once complete. The company currently manages other Blake-branded communities in Alabama, Louisiana, Mississippi and Tennessee.

February 22, 2016

Multifamily South Carolina Southeast

Kettler, Stillman Group Acquire North Charleston Apartment Community for $22.5M

by John Nelson February 17, 2016

NORTH CHARLESTON, S.C. — Kettler and The Stillman Group have purchased Jamison Park in North Charleston from Middle Street Partners for $22.5 million. The apartment complex is located near the Joint Force Air Force Base, the Charleston International Airport and The Boeing Co. Phil Brosseau and Kevin Kempf of CBRE represented the buyers in the transaction. The acquisition increases the number of apartment units that Kettler manages to roughly 33,000.

February 17, 2016

Retail South Carolina Southeast

MPV Properties Breaks Ground on RedStone Development in South Carolina

by John Nelson February 16, 2016

INDIAN LAND, S.C. — MPV Properties has broken ground on RedStone, a retail development located in Indian Land. Phase I of the property will feature a 14-screen Stone Theatre and 54,900 square feet of retail shop space. Upon completion, the shopping center will total 310,000 square feet. The property will be situated at the intersection of Highway 521 and Highway 160 in northern Lancaster County. MPV’s team for the RedStone project includes developer Mike Bilodeau and leasing agent Keely (Simerville) Hines.

February 16, 2016

Loans Retail South Carolina Southeast

Aztec Secures $14M Construction Loan for Publix-Anchored Shopping Center in South Carolina

by John Nelson February 8, 2016

CHAPIN, S.C. — Aztec Group Inc. has secured a $14 million construction loan for Chapin Crossing Shopping Center, a Publix-anchored project underway in Chapin. The shopping center will feature a 45,600-square-foot Publix, roughly 36,000 square feet of inline shop space and three outparcels that can span up to 41,000 square feet. The project will be situated on a 20-acre lot near Lake Murray. Jason Shapiro and Sean Harrington of Aztec Group originated the three-year loan on behalf of the borrower, Chapin & Lex LLC, a joint venture between Mayan Properties, Elion Partners and CF Properties. The loan features a four-year extension option.

February 8, 2016

Multifamily South Carolina Southeast

RADCO Acquires Two Apartment Communities in Spartanburg for $60.9M

by John Nelson February 3, 2016

SPARTANBURG, S.C. — The RADCO Cos. has purchased two apartment communities in Spartanburg totaling 700 units for a combined $60.9 million. The properties, formerly named Chartwell at North End and Chartwell Oak Forest, have been renamed to Willows at North End and Parkside at Laurel West, respectively. RADCO financed the acquisition of the Class B portfolio using private capital and by assuming existing long-term financing from Fannie Mae. Cushman & Wakefield brokered the transaction. RADCO plans to spend an estimated $6.4 million to upgrade the amenity spaces, landscaping, paths and interior finishes at the two properties. The same developer built the two communities in several phases between 1996 and 2003. With these recent acquisitions, RADCO now owns 15,077 multifamily units in eight states, including five properties in Upstate South Carolina.

February 3, 2016

Loans Multifamily South Carolina Southeast

NorthMarq Capital Arranges $10M Loan for Apartment Community in Upstate South Carolina

by John Nelson January 21, 2016

GREER, S.C. — NorthMarq Capital has arranged the $10 million refinancing of Halcyon at Cross Creek Apartments, a 152-unit multifamily community located at 1200 Halcyon Circle in Greer. Bill Matone of NorthMarq’s Charlotte office arranged the 10-year loan with a 30-year amortization schedule through Freddie Mac.

January 21, 2016

Retail South Carolina Southeast

DNA Partners Purchases Shopping Center in Greenville

by John Nelson January 20, 2016

GREENVILLE, S.C. — DNA Partners has purchased The Gallery, a 142,000-square-foot retail center located on Haywood Road in Greenville. The Gallery is leased to Gabe’s and Conn’s and features a Chick-fil-A at its entrance. DNA Partners plans to add outdoor seating and update the landscaping of the center’s courtyard. The firm is also planning to redesign the center’s side building to accommodate active outdoor lifestyle tenants.

January 20, 2016

The Shoppes at Centre Pointe North Charleston

Retail South Carolina Southeast

The Shopping Center Group Brokers $16.5M Sale of Shoppes at Centre Pointe in North Charleston

by John Nelson January 14, 2016

NORTH CHARLESTON, S.C. — The Shopping Center Group (TSCG) has brokered the $16.5 million sale of The Shoppes at Centre Pointe, a 140,000-square-foot shopping center located in North Charleston. An affiliate of Monarch Investments purchased the retail property from an unnamed private real estate investment firm. Anchored by Staples and Ashley Furniture, the shopping center’s other tenants include Dollar Tree, McAlister’s Deli, Qdoba Mexican Eats, Cici’s Pizza, Sally Beauty Supply, GameStop, Cricket Wireless and Dunkin’ Donuts. IHOP and Chick-fil-A also operate at the shopping center but were not included in the sale. Walmart and Sam’s Club shadow-anchor the center. Anthony Blanco, Lenard Williams and Mallory Ham of TSCG’s investment sales team, along with Jeff Yurfest and Michael Silverman of TSCG’s Charleston office, represented the seller in the transaction.

January 14, 2016

Loans Retail South Carolina Southeast

HFF Secures $13.4M Acquisition Loan for Shopping Center in Hilton Head

by John Nelson January 8, 2016

HILTON HEAD, S.C. — HFF has secured $13.4 million in acquisition financing for Fresh Market Shoppes, an 86,694-square-foot, grocery-anchored shopping center in Hilton Head. Redeveloped in 2004, the shopping center was 91.2 percent leased at the time of financing to 16 tenants, including anchor The Fresh Market, Bonefish Grill, Dollar Tree, Massage Envy and West Marine. Situated on 9.7 acres at 890 William Hilton Parkway, the shopping center is bounded by two golf courses: Long Cove Golf Club and Shipyard Plantation Golf Course. Travis Anderson and Cory Fowler led HFF’s debt placement team to arrange the loan through Synovus Bank on behalf of the borrower, Ferncroft Capital.

January 8, 2016

South Carolina Southeast Student Housing

Haven to Develop $55M Student Housing Project Near University of South Carolina

by John Nelson January 4, 2016

COLUMBIA, S.C. — Atlanta-based Haven Campus Communities will develop a $55 million, six-building student housing project in the Bull Street development near the University of South Carolina in Columbia. The 234-unit project will go up on nearly 6.5 acres in the proposed BullStreet Common development and feature apartment residences and townhomes. The project includes a 608-space parking deck and 104 street spaces, as well as a pool, courtyard and covered pavilion. The site is adjacent to a city-owned baseball stadium that will open this year.

January 4, 2016

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