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Excelsa Properties has acquired Coventry Green Apartmentsin the Goose Creek suburb of Charleston, SC for $52.7 million

Excelsa Properties Buys Charleston Multifam in $53M Off-Market Deal

Beirut-based Excelsa Properties has acquired Coventry Green Apartments, a 256-unit multifamily property located in the Goose Creek suburb of Charleston, SC, for $52.7 million. Stronghold Capital Partners partnered with Excelsa in closing the off-market transaction.

The acquisition represents the tenth US multifamily property acquisition of Excelsa US Real Estate I, LP (EUSRE I), collectively worth $350 million, and the second multifamily property acquisition of Excelsa US Real Estate II, LP. The company also owns Fox Hunt Farms Apartments in the Charlotte suburb of Fort Mill, SC, which it purchased for $61.5 million in December 2021.

 Built in 2001, Excelsa Properties intends to invest more than $5 million to upgrade the value-add property, which was built in 2001. The community is a 10-minute drive to North Charleston and 25-minutes to Charleston. It is in proximity to major employers including Joint Base Charleston, The Medical University of South Carolina, The Boeing Company and Volvo Car USA.

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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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