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Kiawah questions how to top 2021, find future inventory
Two years ago amid a looming pandemic and fears of an industry crash, Dan Whalen’s message to his Kiawah Island Real Estate team was clear: try and stay positive. Today, he’s constantly reminding them to stay grounded. “It’s crazy. It’s been great to be here, kind of surreal when you think abou[...]
300-unit multi-family complex in Cane Bay sold for $79.5M
The Hudson, a 300-unit multi-family apartment complex in Summerville’s Cane Bay neighborhood, was recently sold in an off-market transaction to a private equity firm for $79.5 million. The sale was announced in November 2021. New York-based developer Monday Properties sold the complex on Owl Lane to Columbia-based PassiveI[...]
New development releases first homesites in Mount Pleasant
John Weiland Homes and Neighborhoods is helping to solve the region’s issue of low residential real estate inventory by releasing its first homesites at Wando Village. The new luxury waterfront community is centrally located between Mount Pleasant and Daniel Island along the Wando River. The first model home can be toured daily at 372 Blowing […]
Lowcountry firms sell $648 million portfolio
The InterTech Group Inc. and Middle Street Partners are taking the win on 15 multifamily properties around the Southeast and selling them for $648 million. The companies recently announced the sale of the 4,102-unit portfolio, saying in a news release that the transaction is part of its strategy to take gains and reallocate capital into other investments in […]
Timbers Kiawah sells out, records $35.3M sales in 2021
Timbers Kiawah Ocean Club and Residences has sold out. The residential development, owned and operated by Timbers Resorts, opened in 2018 as Kiawah Island’s only private residence club. With a boom in island sales throughout the pandemic, Timbers recorded $35.3 million in combined contracts and closings in 2021 alone. Fina[...]
Company sells 3-property West Ashley portfolio for $76M
An Atlanta-based real estate company has sold its three-property, 498-unit multifamily portfolio in West Ashley for $76 million. The RADCO Cos., a national real estate company, announced the sale to Atlanta’s Braden Fellman Group today. The portfolio includes three multi-family assets that RADCO acquired between 2017 and 2[...]
Arizona-based construction company eyes Charleston market
Meritage Homes has closed on its first land purchase in the coastal Carolinas. The sixth-largest public homebuilder in the U.S, based on homes closed in 2020, is expanding its East Region operations, with a focus on Myrtle Beach, Charleston and the surrounding areas. The Scottsdale, Arizona-based company’s first South Carolina community will be developed in […]
Appraisers struggle to keep up with demand in hot real estate market
The real estate frenzy of the past year-plus has been well-documented in state, local and national data. As buyers flood the market, a dwindling supply of available homes has caused a spike in home prices, yet done little to blunt that surge in demand. In South Carolina, home sales in 2020 and early 2021 increased […]
Charleston takes new approach to housing crisis
This story was originally published in the Oct. 18, 2021 edition of the Charleston Regional Business Journal. In less than 10 years, Charleston will need 16,351 affordable places for people to live, according to a city report. To find and build those affordable residences, Charleston is seeking out a real estate broker whose sole job […]
Residential developments expand into Ravenel
This story was originally published in the Oct. 4, 2021 edition of the Charleston Regional Business Journal. A second planned unit development has been pitched for Ravenel, the rural town of 2,700 residents, showing signs that progress is now pushing outward from West Ashley. Residents are concerned the movement could fundamenta[...]
The Charles riverfront townhomes coming to downtown Charleston
A new luxury townhouse community is coming to the corner of Broad and Barre streets. The Charles, set to open in spring 2023 with four-story townhomes overlooking the Ashley River, is now available to buyers starting at $3.7 million. The community is designed by Antunovich Associates Designworks of Chicago and developed by The B[...]
North Charleston apartments purchased by national investment platform
Capstone Apartment Partners has brokered the sale of North Charleston multi-family development Highland Exchange for $54,648,000. Capstone’s Eric Liebich and Ron Corrao facilitated the transaction between the developer, Atlanta-based Hathaway Development, and Fundrise, America’s largest direct-to-investor real estate investment platform, headquartered in Washington, D.C. “The sale of Highland Exchange represents t[...]
