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North Charleston’s Retreat at Palm Pointe Sells for $13M
The joint venture team of Cushman & Wakefield and Greystone announced they arranged the sale of, and provided acquisition financing for, respectively, Retreat at Palm Pointe. The 112-unit apartment community is located at 2561 Fassitt Rd. in North Charleston, South Carolina.
Cushman & Wakefield’s John Phoenix, Richard Gore, Tyler Fish, and Pat O’Brien represented the seller in the $13.25 million sale, while Greystone’s Donny Rosenberg originated a Fannie Mae DUS® loan to finance the acquisition. The multifamily property was sold by Cohen Investment Group and acquired by Prospect Lane.
“Retreat at Palm Pointe presented Prospect Lane the opportunity to acquire a well-maintained asset experiencing strong operational momentum and offering a proven value-add initiative on which to capitalize,” said John Phoenix, Senior Director at Cushman & Wakefield.
Retreat at Palm Pointe was built in 1991. It sits adjacent to high-end retail and is within an area contributing to Charleston’s booming economy.
- ◦Sale/Acquisition

