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Berkadia announced the sale of Aviary Village and The Cloisters, two multifamily properties in the Myrtle Beach area. Managing Director Mark Boyce and Director Blake Coffey of Berkadia Charleston completed the $27.6 million sale on behalf of the seller, New Jersey-based Eskay Management. The buyer was New York-based Aulder Capital, and the deal closed on July 18, according to a news release.
“The Myrtle Beach MSA is one of the fastest growing in the U.S.,” Coffey said in the news release. “The record migration and rent growth provides an excellent opportunity for the buyer.”
Aviary Village is located at 555 Wild Wing Blvd. in Conway. The 72-unit property features one- and two-bedroom floor plans with in-unit washers and dryers and private balconies or patios. Community amenities include a swimming pool, a fitness center and a playground.
The Cloisters is located at 902 67th Ave. N. in Myrtle Beach. The 88-unit property features one-bedroom floor plans with dishwashers. Community amenities include a swimming pool and laundry facilities.
Other commercial real estate deals included:
Avison Young’s Todd P. Garrett, Tradd Varner and Daniel McClam represented JM Montgomery Properties LLC in the lease extension of 3,200 square feet of office/warehouse space at 7272 Peppermill Parkway in North Charleston to SLJ LLC, doing business as Advanced Maintenance.
Twin Rivers Capital LLC completed the sale of a Super Walmart shadow center in Moulton, Ala. The 31,153-square-foot center, located at 15379 Highway 24, was bought by TRC in 2016. TRC successfully re-tenanted and stabilized the property pre-sale, bringing on Dollar Tree, Domino’s Pizza, Lawrence County Chamber of Commerce, Chopstix Hibachi Buffet and Smoke House Vape Shop.
James Dingle of Coldwell Banker Commercial Atlantic represented the seller in the sale of 4000 square feet of mixed-use space at 724 King St. in Charleston for $1.7 million.
Kristie Roe and William Ederle of Colliers represented Liberty Office, LLC in the lease renewal of 28,244 square feet of office space at 151 Meeting Street in Charleston to Nelson Mullins Riley & Scarborough LLP.