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Atlanta & Southeast  + Southeast  + Apartments  |  September 17, 2020
David Cohen
By: David Cohen

Passco Acquires South Carolina MF Community for $78M

California-based commercial real estate company Passco has acquired One Hampton Lake, a 330-unit multifamily community in Bluffton, S.C. The property was purchased from Southeastern Company for $78 million in an off-market transaction.

Originally built in 2018 with a Phase II expansion completed this year, One Hampton Lake is a garden-style community that sits on 35 acres. The property offers one-, two-, and three-bedroom units featuring quartz countertops, stainless steel appliances, front-loaded washer/dryers and screened-in first floor private patios. Amenities include a resort-style infinity pool with a boardwalk deck, kayak launch and storage, pet park, fitness center, screened-in outdoor lounge with fireplace, outdoor kitchen and grilling areas with picnic tables. The community is located at 11 Parklands Drive in Bluffton.

Chris Black and Caleb Marten of KeyBank Real Estate Capital’s Commercial Mortgage Group arranged acquisition financing on behalf of Passco Companies. Terms of the financing were not disclosed.

For comments, questions or concerns, please contact David Cohen

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About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.
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