Berkadia Completes Charleston Apartment Sale


sold_sign65Berkadia announced the recent $12,775,000 sale of Hampton Oaks, a 160-unit multifamily property located in N. Charleston, S.C.

Mark Boyce, Senior Director and Blake Coffey, Associate exclusively listed the property for QR Capital and completed the sale on January 6th. Hampton Oaks was acquired by Toro Real Estate.

“With over a dozen offers generated on this asset and a purchase price at roughly $80,000 per unit, it’s easy to see that the demand for Charleston assets remains strong,” said Boyce.

Hampton Oaks is a 160-unit, two-story, garden-style apartment community located in the city of North Charleston, South Carolina. The property is situated 13 miles from Downtown Charleston, 5 miles away from Boeing facility, 0.6 miles away from Trident Technical College, 9 miles from the new Volvo North America Plant, and 5 miles from Charleston International Airport.

Built in 1971, the property is situated on 7.71 acres of land, and consists of eight masonry constructed buildings with brick and vinyl exteriors and pitched roofs. Hampton Oaks contains a desirable unit mix comprised of 48 one-bedroom units ranging from 651 to 750 square feet and 112 two-bedroom units ranging from 868 to 968 square feet. The property has an overall average unit size of 820 square feet.

This property’s community amenities include: a swimming pool with sun deck, picnic and grilling areas, clubhouse with Internet cafe, fitness center, playground, central laundry facility, business center, and enclosed bark park.

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