Berkadia Closes Two Sales in SC for a Combined $46M

The multifamily properties located in Columbia and North Charleston add up to 786 units.

by Laura Calugar

Greenbrier Apartments in Columbia
Greenbrier Apartments, Columbia, S.C.

Columbia and North Charleston, S.C.Berkadia has announced the sales of Greenbrier Apartments in Columbia for $30 million and Ashley Village Townhomes in North Charleston for $16.4 million. The property in Columbia was bought by Southwood Realty, while the one in North Charleston was sold by URS Capital Partners to PEM Real Estate Group. The deals were completed by Senior Director Mark Boyce and Associate Blake Coffey of Berkadia’s Charleston office.

Located at 100 Willow Oak Drive, Greenbrier Apartments is a 526-unit community, offering one-, two- and three-bedroom floor plans with gas or wood burning fireplaces and large walk-in closets. Amenities include a fitness center, a business center, a tennis court and a swimming pool.

Ashley Village Townhomes in North Charleston
Ashley Village Townhomes, North Charleston, S.C.

Ashley Village Townhomes is a 260-unit property located at 3311 Mountainbrook Ave. The community features one-, two- and three-bedroom suites. Amenities include a fitness center, swimming pool with sundeck and a dog park.

“The Greenbrier sale marks a significant milestone for the Berkadia team. Year-to-date we have closed 2,416 units in the Columbia market at an overall value greater than $136 million. Ashley Village was an attractive investment opportunity for PEM Real Estate. Not only did it provide the buyer with economies to scale in the Charleston area, but there is ample opportunity to add value through interior renovation to the property,” Boyce said in a prepared statement.

According to Berkadia, the average asking rent in the Charleston market increased 5.6 percent this year to $1,091 per month as of May 2016. The rise comes after rents rose 5 percent during the preceding year. ​

Images courtesy of Greenbrier Apartments & Live Ashley Village