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Atlanta & Southeast  + Carolinas  + Apartments  |  March 7, 2023
Rowin Capital and Penny Lane Associates have acquired Forest at Fenwick apartments in Johns Island, SC, for $16.3 million.
Lisa McDuffie
By: Lisa McDuffie

Rowin Capital, Penny Lane Associates Buy $16M Multifamily in Johns Island

A partnership managed by Rowin Capital and Penny Lane Associates has acquired Forest at Fenwick, an 80-unit multifamily property located in the Charleston submarket of Johns Island, SC, for $16.3 million.

John Phoenix, Richard Gore and Tyler Fish of commercial real estate services firm Cushman & Wakefield‘s represented the seller, Southwood Realty/Triangle Real Estate, in the transfer to private real estate investment firm Rowin Capital and Penny Lane Associates.

“Forest at Fenwick provided the buyer a proven value-add opportunity to capitalize on a well-maintained asset in a thriving Charleston submarket,” said Phoenix.

The 2005-constructed Forest at Fenwick is in area that is walkable to restaurants and grocers on Maybank Highway. The property includes swimming pool with sundeck, poolside gas grill, fire-pit, 24-hour fitness center, coffee bar and screened-in outdoor lounge.

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Inside The Story

Cushman & Wakefield's John Phoenix

About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.
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