South Carolina

FORT MILL, S.C. — LPL Financial has opened its new Carolinas campus in Fort Mill, a suburb of Charlotte in South Carolina. Designed by tvsdesign, the 27-acre campus includes 450,000 square feet of office space in two buildings and features net-zero water design strategies, tree save areas, efficient HVAC systems and natural light. The Atlanta-based architect expects the campus to receive LEED Gold certification. The campus consolidates LPL Financial’s 1,400 employees previously working in four separate locations in metro Charlotte. Situated within the Kingsley Park mixed-use development, LPL’s campus includes sit-to-stand adjustable work stations, a fitness center, health clinic, cafeteria, two miles of walking trails, community garden, outdoor sports court, game room, waterfront plaza, 12 EV charging stations, bicycle storage and a bicycle sharing program.

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GREENVILLE, S.C. — The Greenwich Group International has secured $52.9 million in acquisition and renovation financing for Park Central and Park East, two office parks in Greenville totaling 570,000 square feet. The financing included a $39 million loan and $13.9 million in joint venture equity. The borrower, Atlanta-based TWO Capital Partners, purchased the properties in an off-market transaction. Located in Greenville’s I-385 corridor, Park Central and Park East feature 12 buildings that were 70 percent leased at the time of sale. Don Atchison, Steve Lorenz and Larry Baucom led Greenwich Group’s team in securing the financing.

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SIMPSONVILLE, S.C. — New York-based Toro Real Estate Partners has purchased Enclave Grandview, a 240-unit apartment community in the Greenville suburb of Simpsonville. Toro plans to rename the asset Stillwater at Grandview Cove. The property is the second acquisition in the Greenville area for Toro in the past six months. Ryan Duff of Arbor Commercial arranged a 12-year Fannie Mae acquisition loan on behalf of Toro, which used a 1031 exchange and private capital to fund the equity side of the transaction. Toro owns roughly 1,200 multifamily units in the Southeast and Midwest with over $70 million in managed assets. Blue Ridge Cos. will manage Stillwater at Grandview Cove on behalf of Toro.

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HILTON HEAD, S.C. — Grandbridge Real Estate Capital has closed a $38 million loan for the refinancing of Shelter Cove Towne Centre, a 271,721-square-foot lifestyle and grocery-anchored shopping center in Hilton Head. Bill Mattice and Phillip Cox of Grandbridge’s Greenville, S.C., office originated the 10-year loan through New York Life on behalf of the borrower, Augusta, Ga.-based Southeastern Development Associates. The loan features two years of interest-only payments and a 30-year amortization schedule.

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COLUMBIA, S.C. — Campus First Student Living and CF Real Estate Services LLC have formed a joint venture with a private commingled fund to purchase Club at Carolina Stadium, a 486-bed student housing property situated less than one mile from the main campus of the University of South Carolina in Columbia. The community is located adjacent to the Congaree River and across from the university’s new ballpark. Campus First will be overseeing a $2.7 million renovation and rebranding of Club at Carolina Stadium, which will be renamed Rivers Edge at Carolina Stadium. The renovations will include a new clubhouse with a fitness center, private and shared study lounges, gaming area, café and a deck overlooking the swimming pool and terrace area. Other improvements will include a new outdoor kitchen, renovated dog park with dog washing station, two fire pit areas, enhanced landscaping, new signage, kayaks and canoes for residents and a new shuttle bus and electric bikes for students to get to class. The overhaul will also include upgraded internet and cable packages, as well as the addition of VIP premium suites that will include gray faux-wood floors, painted interiors and renovated kitchens with subway tile backsplashes, stainless steel appliances, …

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COLUMBIA, S.C. — Bellwether Enterprise has closed a $26.4 million loan for the acquisition and rehabilitation of Pavilion Towers, a 240-unit apartment community located on Huger Street in Columbia. The property is situated near downtown Columbia, Finlay Park, the Congaree Vista entertainment district and the Vista Greenway biking and walking trail. The borrower, Vista Towers Columbia LLC, plans to use the loan to fund an $11 million renovation program at the property. The developer, Greenville, S.C.-based Homes Urban, will upgrade the Pavilion Towers’ existing units and convert an adjacent office building into a new community space with 23 additional residences. Matt Good of Bellwether Enterprise arranged the construction/permanent loan through Freddie Mac’s acquisition rehabilitation program.

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COLUMBIA, S.C. — The Beach Co., a Charleston-based real estate developer, has broken ground on the final phase of the mixed-use CanalSide project in downtown Columbia. Situated in The Vista district, the new property is a 339-unit multifamily development known as Sola Station. The community will include 29,000 square feet of commercial space, as well as a saltwater pool, fitness center, yoga studio, dog park, spa, bike shop, clubroom and outdoor kitchens. The consultant team at Sola Station includes JHP Architecture, Creative Builders Inc., Alliance Consulting Engineers Inc., Hodgson & Douglas LLC and Moore Design Group. US Bank NA provided construction financing.

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CHARLESTON, S.C. — Blackbaud, a Charleston-based cloud software provider for nonprofits and similar organizations, has selected Holder Properties to develop the company’s new corporate campus in Charleston. Blackbaud’s new campus will consist of a two-phase project situated on 13 acres in the Daniel Island community. Phase I will consist of a four-story, 172,000-square-foot office building and a 650-space surface parking lot located at the corner of Fairchild and Central Island streets. The site is planned to accommodate a second phase expansion for up to 175,000 square feet of additional office space. Construction began in October and Blackbaud will occupy the building upon its completion in the first quarter of 2018. The project team includes architect ASD and general contractor Balfour Beatty. Lee Allen, Chase Monroe, Graham Summers, Denice Michel and John Robinson of JLL represented Blackbaud in the transaction.

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SPARTANBURG, S.C. — NAI Earle Furman has brokered the $8.8 million sale of two apartment communities totaling 166 units in Spartanburg. The assets include the 74-unit Georgetown Village located at 1421 John B White Sr. Blvd. and the 92-unit Timberlane Apartments located at 106 Kensington Drive. Cedar Grove SC LLC purchased both assets from Georgetown Holdings LLC. Tony Bonitati, Kay Hill and Bern DuPree of NAI Earle Furman represented the seller in the transaction. Both Georgetown Village and Timberlane Apartments were fully occupied at the time of sale.

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COLUMBIA, S.C. — ARA Newmark has arranged the $56 million sale of Aspyre, a 760-bed student housing community located near the University of South Carolina campus in Columbia. Ryan Lang of ARA Newmark represented the seller, Holder Properties, in the disposition of the property to Castlerock Enterprises. Community amenities at Aspyre include a resort-style pool with a beach area and grills; a clubroom with a bar area, a Nintendo Wii and a PlayStation; and a Zen courtyard with a putting green and 24-hour fitness center. Aspyre was 97 percent occupied at the time of sale.

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