Carolina MF Investments Pays $22M for Charleston Multifamily Community
Carolina Multifamily Investments has purchased Avalon at North Charleston III (formerly Willow Ridge), a 145-unit townhouse community in Charleston, SC, for $22.4 million.
Electra Capital, LLC, secured a $16.9 million bridge loan on behalf of the buyer. “Charleston is enjoying strong job growth, and likewise apartment demand, on account of the diversification of its employment sector and in-migration from other states,” said Samuel J. Greenblatt, CEO of Electra Capital.
Located at 7604-7749 Warsaw Road, Avalon at North Charleston is a newly renovated townhome community offering one and two-bedroom apartment homes ranging from 688 square feet to 1,196 square feet. The property is situated between Boeing, Bosch and the Charleston Air Force Base.
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 he makes the transition from an utterly failed racehorse to a lovely show hunter.