Feb
16

N. Charleston Apartment Sold for $104,000/Unit

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Jamison ParkKettler and The Stillman Group recently announced they have purchased Jamison Park in North Charleston, S.C. from Middle Street Partners for $22,500,000, or $104,167/unit. This apartment community was built in 2001 and has 3 stories with 216 units.

Jamison Park is located in the rapidly growing submarket of North Charleston which is home to several major employers, including the Joint Force Air Force Base, the Charleston International Airport, and The Boeing Co.

The transaction comes just months after Kettler and Stillman acquired a two asset portfolio in Charleston. “Kettler and The Stillman Group just recently established a presence in Charleston. In fact, this is the third multifamily property the partners have acquired in Charleston within a span of 75 days. This demonstrates the continuing trend of institutional capital identifying Charleston as a stable, rapidly growing market with favorable economic trends and recognized employer expansion into the area,” said Kevin Kempf, CBRE Carolinas.

Phil Brosseau and Kevin Kempf, with CBRE  brokered the transaction.

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