Monday Properties Starts Third North Charleston Multifamily with $48M Build Loan
Arlington, VA-based Monday Properties, in partnership with Glenmont Capital Management has broken ground on The Willow, a 338-unit, Class A community in North Charleston, SC. Monday Properties purchased the site in November 2021 and secured $48 million in construction financing from Sandy Spring Bank.
“The Charleston market, as well as the greater Southeast, is part of our broader multifamily investment strategy, which also involves doubling down in home markets like Stamford, CT, and Alexandria, VA,” said Timothy Helmig, managing partner at Monday Properties, a multifamily developer. “The post-COVID landscape has further reinforced multifamily as a safe and high-demand investment.”
The Willow sits at 7562 Plantation Road off Ashley Phosphate Road with nearby retail, dining, and entertainment options. The Willow is proximate I-26, as well as major employers such as Boeing, Daimler and the Charleston International Airport.
The pet-friendly community will feature a half-acre dog park.
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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