South Carolina

Trinity Capital, Durlach to Develop Class A Office Building in North Charleston

by John Nelson June 11, 2015

NORTH CHARLESTON, S.C. — Trinity Capital Advisors has partnered with Durlach Associates to develop Faber Plaza, a Class A office building located in North Charleston’s Faber Place submarket. The 125,000-square-foot building will be located at 4400 Leeds Ave., at the entrance to The Executive Park at Faber Place and Leeds Park. Rob Cochran and Jared Londry of DTZ’s Carolinas Capital Markets group arranged construction financing on behalf of Durlach Associates. The design team includes architect LS3P Architects and general contractor Choate Construction. Trinity Capital and Durlach are planning to break ground in late July, with construction set for an April 2016 completion.

June 11, 2015

Loans Multifamily North Carolina South Carolina Southeast

Capital One Closes $53.4M Refinancing of Four Apartment Communities in the Carolinas

by John Nelson June 9, 2015

NEW YORK — Capital One has provided four loans totaling $53.4 million for the refinancing of four apartment communities in North Carolina and South Carolina. Capital One provided the loans to Brookfield Strategic Real Estate Partners Fund, which used the loans to repay existing CMBS debt on the properties, according to Capital One. The refinanced assets in North Carolina include the 252-unit Chason Ridge in Fayetteville and the 194-unit Bridges at Mallard Creek in Charlotte. Brookfield received loans of $9.5 million and $11.1 million, respectively, for those assets. In South Carolina, the refinanced properties include the 240-unit Waverly Place in North Charleston and the 232-unit Paces Watch in Mount Pleasant. Brookfield received loans for $12.7 million and $20.6 million, respectively.

June 9, 2015

Office South Carolina Southeast

RealOp Investments, Terra Capital Buy Office Portfolio in Greenville

by John Nelson June 5, 2015

GREENVILLE, S.C. — RealOp Investments and Terra Capital Partners have partnered to acquire and manage an office portfolio in Greenville totaling 570,000 square feet. The properties in the portfolio include two office parks totaling 12 buildings. Park East comprises nine multi-tenant office assets, and Park Central contains three buildings. RealOp, along with leasing and management partner NAI Earle Furman, will update, rebrand and reposition the office properties in the portfolio, and Terra Capital Partners will provide financing.

June 5, 2015

Multifamily South Carolina Southeast

Hamilton Point Investments Acquires Apartment Community in Metro Charlotte for $13.4M

by John Nelson June 5, 2015

ROCK HILL, S.C. — Hamilton Point Investments LLC, a Connecticut-based multifamily owner, has purchased the 168-unit Cushendall Commons for $13.4 million. Built in 2002, the apartment community is located directly off of I-177 in Rock Hill, roughly 24 miles south of downtown Charlotte. The complex’s amenity package includes a swimming pool, business center and 24-hour fitness center. The property was 98.1 percent occupied at the time of sale. Alex Brown of Cushman & Wakefield of Georgia Inc. represented the seller, JMG Realty, in the transaction. Hamilton Point Investments was self-represented.

June 5, 2015

Multifamily South Carolina Southeast

Colliers Brokers $22.9M Sale of Apartment Community in Suburban Columbia

by John Nelson June 3, 2015

ELGIN, S.C. — Colliers International has brokered the $22.9 million sale of Legacy at Sandhill, a 240-unit Class A apartment community located in Elgin, a suburb of Columbia. Will Mathews, Ron Cameron and Woody Moore of Colliers represented the seller, Atlanta-based Mesa Capital Partners, in the transaction. The buyer was the Wilkinson Group, also based in Atlanta.

June 3, 2015

Multifamily South Carolina Southeast

Proffitt Dixon Partners to Break Ground on Apartment Community in Greenville

by John Nelson May 22, 2015

GREENVILLE, S.C. — Proffitt Dixon Partners plans to break ground this month on Fountains Greenville, a 201-unit luxury apartment community in Greenville. The new five-story community will be located on a 2.5-acre site at 210 E. Broad St., within walking distance of Greenville’s central business district and the Swamp Rabbit Trail. Upon completion in the fall of 2016, the property will feature a clubhouse, courtyards, pool and a fitness center. The design team includes architect The Housing Studio and general contractor Creative Builders Group. Fountains Greenville is Proffitt Dixon’s first development in South Carolina.

May 22, 2015

Multifamily South Carolina Southeast

Berkadia Brokers $12.4M Sale of Apartment Community in Charleston

by John Nelson May 19, 2015

CHARLESTON, S.C. — Berkadia has brokered the $12.4 million sale of East Central Lofts, a 72-unit, Class A apartment community located at 274 Huger St. in Charleston. Built in 2013, East Central Lofts comprises studio, one- and two-bedroom units with granite countertops, stainless steel appliances, hardwood floors and floor-to-ceiling windows. The property’s amenities include laundry facilities on each floor, a bocce ball court, barbecue area and covered and gated parking. The property offers views of the Ravenel Bridge and is located within walking distance of historic downtown Charleston. East Central Lofts LLC sold the asset to a group of buyers, including Federal Capital Partners, Kane Realty Corp., Randolph Development and Canongate Capital. Mark Boyce of Berkadia’s Charleston office brokered the transaction.

May 19, 2015

Westgate Shopping Center Little Rock Arkansas

Arkansas Retail South Carolina Southeast

The Shopping Center Group Brokers Sale of Retail Centers in Metro Greenville, Little Rock

by John Nelson May 14, 2015

EASLEY, S.C. AND LITTLE ROCK, ARK. — The Shopping Center Group has finalized the sales of The Shops at Easley Town Center in the Greenville submarket of Easley and Westgate Shopping Center in northwest Little Rock. A private investor based in California purchased the 21,300-square-foot Shops at Easley Town Center from Akron, Ohio-based Cedarwood Development for an undisclosed price. Built in 2012, the unanchored shopping center was 92 percent leased at the time of sale to tenants such as Five Guys Burgers and Fries, GameStop, AT&T Mobility, Aspen Dental, Jersey Mike’s, Sprint and GNC. An affiliate of Denver-based Baceline Investments purchased Westgate Shopping Center from Weingarten Realty for $6.7 million. Built in 1965, the center was 96 percent leased at the time of sale to tenants such as Stein Mart, Dunkin’ Donuts, Top Nails, Tanglewood Drug Store, All Aboard, Subway and Jackson Hewitt Tax Service. Anthony Blanco, Lenard Williams and Mallory Ham of The Shopping Center Group represented the sellers in both transactions. The team partnered with Flake & Kelley Commercial in the Westgate sale.

May 14, 2015

Industrial Market Reports South Carolina Southeast Southeast Market Reports

Roughly 3 Million Square Feet of Industrial Space is in Greenville’s Pipeline in 2015

by John Nelson April 27, 2015

Manufacturing was instrumental in driving the United States economy out of the recession. With Greenville-Spartanburg having a high ratio of manufacturing to warehouse space, the region’s industrial market has been ahead of the national market in terms of growth. Greenville-Spartanburg is first and foremost an industrial market with approximately 160 million square feet of manufacturing, warehouse and flex space. This is larger than the industrial markets in Columbia and Charleston combined. For five consecutive years vacancy has declined and absorption has been consistently positive. Vacancy currently sits at a record 7.3 percent and has been there for several quarters, not moving down further mostly due to lack of product. Annual net absorption topped 4.3 million square feet in 2012 and 2013, and dropped down to 2.5 million in 2014. Space that does not exist cannot be absorbed. Developers are aggressively responding to this lack of product with more than 3 million square feet of space expected to be built in 2015. Over 1.3 million square feet of that space is considered speculative, meaning construction started before occupancy was achieved. Both numbers represent the highest amounts of construction since CBRE began tracking the Greenville-Spartanburg industrial market in 2001. Absorption in 2015 …

April 27, 2015

Loans Multifamily North Carolina South Carolina Southeast

NorthMarq Capital Arranges Two Multifamily Loans in the Carolinas Totaling $34.8M

by John Nelson April 24, 2015

ROCK HILL, S.C. AND GASTONIA, N.C. — NorthMarq Capital has arranged two refinance loans totaling $34.8 million for two multifamily properties in the Carolinas. The assets include the 436-unit Brentwood Chase Apartments at 1654 Lowell Bethesda Road in Gastonia and the 248-unit Cowan Farms at 1310 Cypress Point Drive in Rock Hill. Bill Matone of NorthMarq Capital’s Charlotte office arranged both loans with 10-year terms and 30-year amortization schedules. Brentwood Chase’s loan amount was $21.8 million and Cowan Farms’ was $13 million.

April 24, 2015

Newer Posts

Older Posts