A 336-unit multifamily housing complex in Ladson called Broadstone Ingleside sold for $77.5 million, according to Cushman & Wakefield, a commercial real estate services firm that arranged the deal.
Cushman & Wakefield’s John Phoenix, Louis Smart and Austin Green represented the seller in the transaction. The multifamily community was acquired by a joint venture between affiliates of Abacus Capital and Westbrook Partners, according to a Cushman & Wakefield news release.
"Broadstone Ingleside is a best-in-class garden asset built by one of the most prolific developers in the nation,” Smart, director at Cushman & Wakefield, said in the news release. “This deal is in the absolute bullseye for job growth and in-migration in Charleston — one of the fastest growing and most sought-after markets we cover.”
Broadstone Ingleside is a desirable property because it is positioned in a rapidly expanding North Charleston submarket just off Interstate 26, located near several big-name corporations, the news release said.
Cushman & Wakefield’s Sunbelt Multifamily Advisory Group is a 109-person investment sales team covering 11 states. The group closed $11.1 billion in sales volume through 360 deals and more than 60,300 units.
Hot Properties highlights recently sold or leased commercial properties in the Charleston region. Send in your transactions using our online form. Other recent commercial real estate transactions include:
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Patrick Nealon of Colliers South Carolina represented the seller, Arbys Properties LLC, in the sale of 2,600 square feet of retail space at 6124 Rivers Ave. in North Charleston to Abrahim Dabit.