Archive for Camden

Jul
16

MHA Brokers Four SC Apartment Complexes

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Multi Housing Advisors (MHA) has recently brokered four multifamily sales in South Carolina for a total of more than $39 million.

“The offerings received tremendous investor interest and illustrate that investor demand for multifamily assets in the Southeast is very strong,” Robinson said.

Details are the deals are below:

  • Covenant Capital acquired the 246-unit Century Forest, located in Greenville, South Carolina, from Centennial Holding Company, LLC for $19.3 million. Century Forest, constructed in 1985, includes a swimming pool with a sundeck, a fitness center, tennis courts, a car-care facility, and picnic and grilling areas.
  • PRG Real Estate sold a two-property portfolio in Spartanburg, South Carolina, comprised of The Corners Apartments and Magnolia Townhomes, to Graycliff Capital for $10 million. Both assets were constructed in 1974. The Corners Apartments comprises 176 units and Magnolia Townhomes includes 98 units.
  • Hudson Capital purchased the 120-unit Fox Run, located in Camden, South Carolina, for $9.79 million. Pulliam Investments sold the property, constructed in 2002. Amenities include a fitness center, laundry facility and swimming pool.

Marc Robinson and Jordan McCarley of MHA’s Charlotte, North Carolina, office represented the sellers of the properties.

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Jun
27

O’Reilly Auto Parts store in Camden, S.C Sold

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HighBridge Properties, announced today that it has sold a net-leased, O’Reilly Auto Parts store in Camden, S.C., for $1.1 million. HighBridge represented the property’s developer and seller, A.L. Saad and Company, in the transaction.

Located along U.S. Route 1, the free-standing, single-tenant property was built in 2009. O’Reilly Auto Parts is operating the 6,600-square-foot property on a 20-year net lease in which it is responsible for property expenses and taxes. The property also features an ATM machine that is leased by AllSouth Credit Union. The buyer of each property was not identified. The capitalization rate for the Camden transaction (excluding the ATM machine) was 8.25%, while the North Charleston transaction was priced at a 7.65% cap rate.

Based in Springfield, Mo., O’Reilly Auto Parts is the second-largest auto-parts retailer in the United States, with 3,600 locations in 39 states. The publicly traded firm recorded $5.4 billion in sales during 2010.

Categories : Camden, Uncategorized
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OK, so this property sold for $190,000 in 2002 and now the City of Camden is paying $362,500 for it? That price would indicate an annual appreciation rate of about 7.4%. Not too bad considering the, well…you know, the recession. The City offered 90% of the asking price, which I haven’t seen very often in recent years. On the surface, it sounds like the City didn’t do their homework. I’m sure they saved $1,000 by not getting an appraisal, so they’ve got that going for them……
Michael Dodds, MAI, CCIM
Categories : Camden
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Apr
23

Kershaw County Medical Center Buys Land

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Medical Center buys property

April 23, 2008

The Kershaw County Medical Center has purchased two tracts of land in Camden for future outpatient health care services, said CEO and president Donnie Weeks.

The hospital paid $1.09 million for the two properties — at 37 E. DeKalb St. and 1315 Roberts St., adjacent to the hospital — and closed on the land April 1.

Still, there are no immediate plans for the properties, Weeks said, adding the hospital will honor all leases in place with the current businesses, including the Royal Z Lanes bowling alley.

Sometime in the future, the hospital will renovate the buildings for outpatient health care services, he said.

LINK TO ARTICLE HERE:
http://www.thestate.com/breaking/story/384513.html

Categories : Camden
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