Home News Five Eleven Meeting Apartments in Charleston sold for $88.25M three years after opening

Five Eleven Meeting Apartments in Charleston sold for $88.25M three years after opening

by admin
0 comment

Owners of a newly built apartment in downtown Charleston sold for $88.25 million in one of the peninsula’s most expensive real estate deals.

Massachusetts-based private equity firm Northland I recently paid just under $400,000 for 221 unit keys Five Eleven Meeting Apartment According to Charleston County land records, it is located at 511 Meeting St. near the off-ramp of Interstate 26.

Previous owner is an affiliate Aspen Heights Partners of Austin, Texas.

Five Eleven Meeting opened in 2019. The building has studio, one and two bedroom units, 33 of which are rent-restricted. Amenities include a fitness center, yoga studio, bike storage and repair area, his upstairs pool his deck with fire pit and grilling station.

There is also a permanent lounge with pool table, foosball table and bar space.coffee and wine bar Blum It occupies 2,960 square feet on the ground floor.

According to 5-Eleven’s availability website, rents range from just under $2,100 for a studio apartment to about $3,000 for a two-bedroom unit.

“Since entering the Charleston market in 2019, standard James Island and Wharf 7 Daniel Island has actively explored additional opportunities for expansion onto the peninsula. ” Bruno Sette DucatiNorthland Investment Director.

Since 2019, Northland has invested over $200 million in Charleston, building a portfolio of 813 Class A multifamily homes.

Northland owns and operates more than 26,000 units in 14 states.

2021, 350 units 10 West Edge The Lockwood Drive and Spring Street apartments and retail building sold for about $134 million, or just under $384,000 per key. Mount Pleasant Investments LLC.

On the first floor of a nine-story building Publix Not included in the deal, sold to a Colorado-based supermarket Helton Enterprises LLC $24.5 million in 2020.

2020, based in Charlotte Madison Capital Group Purchased the 275 unit Foundry Point apartment at 6 Hugnin Avenue on Morrison Drive for $82.4 million.

punch list usa

PunchListUSA is headquartered on Upper Meeting Street in Charleston. Courtesy/PunchListUSA

punch in

A national real estate trading group recently hired a Charleston-based technology company as its preferred home repair quote and service partner.

Pursuant to the agreement, National Real Estate Association get free entry and exit To punch list usaonline repair quote. It can be accessed by uploading inspection files from the trade association’s website.

Realtors in PunchListUSA’s service areas receive a 5% discount on their turnkey repair and renovation services.

Get curated Post and Courier real estate news delivered to your inbox every Saturday.

New Charleston building with restaurant and living space proposed

PunchListUSA Co-Founder Advertising CEO Ming Alexander The service is said to be available to 1.5 million agents and industry association members. All repair and refurbishment services are backed by the company’s one-year warranty.

Alston Arms Apartments (copy) (copy)

Alston Arms Apartments in North Charleston was recently sold to a Texas-based company for $28.1 million, five years after a change of ownership for $12.1 million.file/staff

change hands

A North Charleston apartment complex recently changed owners for more than double the price it paid five years ago.

based in texas Think multifamily buy 160 units Alston Arms Apartments $28.1 million from a New Jersey-based company Alston Arms 2017 LLCpaid $12.1 million for 8.7 acres of land in 2017.

The apartment was built in 2007, and had undergone interior and exterior renovations when it was sold five years ago. The buyer plans to continue work on upgrading his two-story unit on nearby Ward Avenue. Charleston Air Force Base.

“North Charleston has experienced tremendous growth over the past few years, and the influx of residents into the area will continue to drive strong workforce housing,” said North Charleston. Jonathan Kesslerbased in Greenville Aline Capitals Multifamily Advisory Groupsupported the transaction.

Okati Hilton Head Hotel

South Street Partners, owner of the 20,000-acre Palmetto Bluff development in Bluffton, Beaufort County, recently purchased the former Fairfield Inn & Suites in nearby Okati for $5.95 million. Provided by South Street Partners/

New acquisition

The real estate investment firm that owns the master developer of Kiawah Island recently purchased a hotel west of Hilton Head Island to ease housing pressure for its employees.

south street partners,Own Kiawa Partners as well as 20,000 acres Palmetto Bluff Paid $5.95 million in August for a 33,000-square-foot, 64-key former developed in Bluffton Fairfield Inn & Suites 105 Okatie Center Blvd. North near Bluffton in Beaufort County.

came to be called Okati Hilton Head Hotel.

“Creating employee housing and accommodations has been a top priority for South Street Partners since we acquired Palmetto Bluff last June. Dixie NorrisVice President of Human Resources.

New 422 unit development proposed for Clements Ferry on I-526 in Charleston

The property will continue to operate as a hotel and will be open to the public, but will offer preferential rates to South Street employees.

Built in 1999, the hotel underwent an interior renovation in 2018. The hot water system and plumbing system have also been upgraded in the last two years. The property has a swimming pool and meeting space.

South Street recently announced the future development of a 300-acre golf course in addition to its 885-acre home site. orange hill Located off Boheckett Road on Johns Island.

Our twice-weekly newsletter features all the business stories that make up Charleston and South Carolina. Go ahead – it’s free.

You may also like