Woodfield Lands $50M Refi for Charleston-Area Community
Walker & Dunlop provided the financing.
Woodfield Development has obtained a $50.4 refinancing loan for The Ames, a 304-unit apartment community located in Summerville, S.C., a suburb of Charleston. Mesa West Capital provided the funds.
Walker & Dunlop’s Charleston Capital Markets team arranged the financing. It was led by Managing Director Walker Layne and Associate Director Austin Sneed.
The Ames opened in July 2024. Floor plans at the community span one to three bedrooms, and include in-unit washers and dryers, walk-in closets as well as patio or balcony options. The 10.5-acre property’s common-area amenities include a swimming pool, courtyard, grilling station, fitness center, a dog park and outdoor amphitheater.
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The Ames is Woodfield’s 17th property in South Carolina. Located at 3800 Zepher Road, The Ames was built as part of Nexton, a larger master-planned, mixed-use project taking shape in Summerville that includes office, retail and educational spaces. Additionally, Charleston, S.C., is 25 miles away.
A fast-growing community
The Ames started pre-leasing in February 2024, five months before its completion. By the time the community came online, the property was 50 percent leased, according to the Charleston Business Journal. As of April 2025, Yardi Matrix data shows the property to be 90.5 percent leased with an average rent price of $2,028.
Design partners for the project included CF Evans, Housing Studio, Seamon Whiteside, Shah Architecture and Interiors and S Wilkins Interior Design. PGIM Real Estate and BMO Harris Bank assisted with the financing.
Last month, URS Capital Partners recently purchased The Palms at Edgewater, also in Summerville. URS purchased the 288-unit Class A community for $58.5 million.
Woodfield’s southeastern roots
Most of Woodfield’s properties are located in the Carolinas. Earlier this year, the company topped out on Queensbridge Collective, a 409-unit residential tower in Charlotte, N.C. The project was a joint venture between Woodfield and Riverside Investment & Development, and will be the second-tallest residential building in the Carolinas when it opens in 2027.
In March, the firm opened EmmaJames, a 280-unit multifamily property in Savannah, Ga. It was the first property to be built in Savannah Harbor, an under-development 35-acre mixed-use community taking shape next to the city’s convention center.
