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344-Unit Charleston Multifamily Refinanced for $71.5M
Mesa West Capital has provided Atlanta-based real estate investment firm Audubon with a $71.5 million first mortgage, floating-rate loan secured by The Cooper, a 344-unit multifamily community in the Charlotte suburb of Mount Pleasant, SC. The financing was arranged by CBRE’s Richard Jordan out of Atlanta.
Proceeds repaid an existing loan and feature a future funding component to complete renovations, including the reconstruction of 16 units that were fire-damaged in October 2019.
The Cooper was built in 1986 and acquired by Audubon in December 2020. Audubon has significantly increased cash flow and occupancy through property upgrades and institutional management. Improvements include the renovation of a majority of the property’s units along with updates to the community’s amenities and a refresh of building exteriors.
Located at 331 Harbor Pointe Drive, The Cooper features a mix of floor plans with amenities including a resort-style swimming pool, fitness center, and dog park.
- ◦Financing

