Oct
24

Parks at Nexton Apartments Sold

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parks-nextonThe apartment complex at the mixed-use Nexton real estate development in Summerville is under new ownership.

A company affiliated with Woodland Hills, Calif.-based NMS Property Services Corp. paid $53.5 million for the Parks at Nexton, or about $167,187 for each of the 320 units, Berkeley County land records show.

It is the NMS’s only investment property outside of California, according to its website.

The seller was a joint venture between The Beach Co., a Charleston real estate firm, and Nexton developer WestRock Co. They completed the Parks project in early 2015.

Ken Seeger, president of WestRock’s real estate development division, said in a statement that the company was pleased with the partnership.

SOURCE

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