Jun
14

Five Charleston Apartment Communities Sold for $50 Million

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VTT ManagementA Massachusetts company with a presence in the Charleston apartment market recently paid $50 million for five separate multifamily communities in the region.

VTT Management Inc. purchased 1,043 units, which extend from Goose Creek and Hanahan to West Ashley, in a portfolio sale from an undisclosed Ohio-based firm, according to John True with real estate firm Coldwell Banker Commercial Atlantic International, who brokered the deal with colleague Brent Case.

The Goose Creek properties include the 184-unit Brentwood Townhomes at 3000 Harbour Lake Drive, previously owned by Brentwood Enterprises Inc.; the 170-unit Brandywine Townhomes at 202 St. James Ave., previously owned by Brandywine Investment Co. LLC; and the 412-unit Pine Harbour Apartments at 5000 Harbour Lake Drive, previously owned by Pine Harbour Investment Co. Inc.

The other rental properties sold were the 70-unit Colony Square Apartments at 1100 River Road in Hanahan, previously owned by Colony Square Investment Co. LLC; and the 207-unit Moss Creek Apartments at 1800 William Kennerty Drive in West Ashley, previously owned by Moss Creek Investment Co. LLC.

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