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Greenville-based Aline Capital orchestrated the $28.1 million sale of Alston Arms Apartments in North Charleston, South Carolina. The 160-unit multifamily community is situated on 8.7 acres and was constructed in 2007. Texas-based Think Multifamily acquired the asset, adding to their ever-growing Southeastern portfolio. At the time of sale, the property was undergoing both interior and exterior renovations and the buyer plans to continue these efforts.
The North Charleston market has witnessed tremendous growth over the past five years and continues to be a driving factor for the growth of the greater Charleston market. Members of Aline Capital’s Multifamily Advisory Group, Johnathan Kessler and John Drummond, piloted the transaction. “The property is located in the ever-growing submarket of North Charleston. The area has seen tremendous growth over the past few years and with the influx of more residents to the area, workforce housing will remain strong,” provided Johnathan Kessler. The Multifamily Advisory Group has been very active in the Charleston area. The sale is the latest of a long line of transactions completed in the Lower State.
Aline Capital is a fully integrated commercial real estate and capital markets advisory firm headquartered in Greenville, SC. The firm offers investment sales, debt & equity advisory, and commercial insurance services to commercial real estate developers and investors. For more information, please visit www.alinecapital.com.
