Jun
15

Five Columbia Area Apartment Communities Sold

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sold signsCBRE Capital Markets’ Debt and Structured Finance team has arranged $75.3 million in financing for the acquisition of a six-property, 1,520-unit multifamily portfolio located in North Carolina and South Carolina.

Steve Heffner, Nate Sittema, and Kristen Reilley of CBRE’s Charlotte office arranged the financing on behalf of Middle Street Partners. The 10-year, fixed-rate loans were provided by Freddie Mac.

“Five out of the six properties are located in Columbia, a stable multi-family market that is very familiar to Middle Street Partners,” Reilley said. “This acquisition presented a perfect opportunity to acquire assets that are consistent with Middle Street Partner’s strategic focus, and the Freddie Mac financing created the best option to generate yield for their investors.”

The properties included in the transaction are:

  • Chason Ridge, located at 600 Scotia Lane, Fayetteville, North Carolina; 252 units.
  • Forestbrook, located at 2805 Shadblow Lane, West Columbia, South Carolina; 180 units.
  • Gable Hill, located at 310 Ross Road, Columbia, South Carolina; 180 units.
  • Hampton Greene, located at 500 Gills Creek Parkway, Columbia, South Carolina; 304 units.
  • St. Andrews Commons, located at 1340 Longcreek Road, Columbia, South Carolina; 336 units.
  • Waterford, located at 1340 Longcreek Road, Columbia, South Carolina; 268 units.

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