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Real Estate - Commercial

North Charleston apartment complex sells for $28.1M

Real Estate - Commercial
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Greenville-based Aline Capital orchestrated the $28.1 million sale of Alston Arms Apartments in North Charleston.

The 160-unit multifamily community is on 8.7 acres and was constructed in 2007, according to a news release. Texas-based Think Multifamily acquired the property, adding to their growing Southeastern portfolio.

At the time of sale, the property was undergoing interior and exterior renovations and the buyer plans to continue those improvements, the news release said.

Members of Aline Capital's Multifamily Advisory Group, Johnathan Kessler and John Drummond, piloted the transaction.

They said the North Charleston market has seen tremendous growth over the past five years and continues to be a driving factor for the growth of the greater Charleston market.

“The property is located in the ever-growing submarket of North Charleston,” Kessler said in the news release. “The area has seen tremendous growth over the past few years and with the influx of more residents to the area, workforce housing will remain strong."

Aline Capital is a fully integrated commercial real estate and capital markets advisory firm headquartered in Greenville. The firm offers investment sales, debt and equity advisory, and commercial insurance services to commercial real estate developers and investors.

Reach Ross Norton at 864-720-1222.

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