KETTLER, Stillman Trade 276-Unit N. Charleston Rental Asset

Newmark announces the Company has completed the sale and financing of Waverly Place, a 276-unit multifamily community located at 1900 Waverly Place Lane in North Charleston, South Carolina. The asset was sold by a joint venture between KETTLER and The Stillman Group to the Charleston Workforce Housing Fund, an impact fund led by Ascent Housing, in partnership with Housing Collaborative. The idea is to keep the units affordable. 

Newmark’s Alex Okulski, Gordon Huey, Dean Smith and Sean Wood represented the seller in the transaction. Josh Davis and Chris Caison, Patrick Breed, Michael Manfro, CJ Webb, Patrick Szyperski and Andrew Kraus secured acquisition financing through Freddie Mac on behalf of the buyer. 

Waverly Place is a garden-style apartment and townhome community located in North Charleston’s Archdale neighborhood, offering a mix of one-, two- and three-bedroom floor plans. Community amenities include a clubhouse, fitness center, resort-style swimming pool, outdoor grilling areas, playground, and tennis/racquetball courts.