White Eagle Property Group Buys Charleston Community

The firm has added to its portfolio a 264-unit property located in Charleston, S.C. FCP and High Real Estate Group sold the asset for $36.1 million.
Plantation Oaks. Image courtesy of FCP and High Real Estate

White Eagle Property Group has purchased Plantation Oaks, a 264-unit community in Charleston, S.C. FCP and High Real Estate Group sold the property for $36.1 million. Newmark Knight Frank represented the seller in the deal.

Situated at 2225 Ashley River Road, the property is just off Interstate 526 and near Freeway 61, within 8 miles of downtown Charleston. The community is about a two-minute walk from the Ashley River Road/Planters Trace Apartments bus stop. Additionally, Plantation Oaks is located approximately 7 miles from Charleston International Airport.

Built in 1985, the 33-building multifamily property occupies more than 20 acres and comprises a mix of one- and two-bedroom units, averaging 854 square feet. The units feature fireplaces, washers and dryers, above standard ceiling heights and private balconies or patios. Common area amenities include a fitness center, a clubhouse, a swimming pool, a spa and 290 parking spaces, according to Yardi Matrix.

Newmark Knight Frank’s team included Senior Managing Director Alex Okulski and Financial Analyst Anthony Rotunda. In June, the firm also worked on behalf of the seller in the $118 million sale of a Philadelphia property