Jun
02

Ladson’s Crowfield Village Apartments Sold

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crowfield villageCapstone Apartment Partners has announced the sale of Crowfield Village, a 162-unit multi-family community located in the popular Ladson submarket of Charleston, SC. The townhome-style property was 96.0% occupied at time of sale. Griffin Funds purchased the property from Bonaventure Realty Group for $14.9M, or $91,975 per door. The property was constructed in 1984; however, Crowfield Village has recently undergone strategic renovations, which have generated up to 11.5% annual rent growth in those units.

The community is proximate to 30,000+ jobs based in the thriving North Charleston submarket, including the nearby Boeing production facility, Joint Base Charleston, and Charleston International Airport. Crowfield Village represented a rare opening for new ownership to acquire a well-maintained community with highly desirable, large floor plans and abundant value-add opportunities. Alex McDermott, Beau McIntosh, Austin Green, and Brian Ford of Capstone Apartment Partners represented the seller in this transaction.

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    Categories : Charleston

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