NAI Charleston Facilitates $16.385 Million Sale of The Gates at Summerville
NAI Charleston announced that brokers Elliot Calhoun and Andrew Braden recently facilitated the $16.385 million sale of The Gates at Summerville, an apartment complex located at 1225 Boonehill Road in Summerville, South Carolina. NAI Charleston represented the buyer, Federal Capital Partners (FCP) in the transaction. Andrew Batkins of Avison Young represented the seller, Somerset South Carolina, LLC.
The Gates at Summerville is a 232-unit garden-style apartment complex located just outside of downtown Summerville. The community boasts luxurious 1-3 bedroom apartments, as well as a fitness center, tennis court, playground, swimming pool and outdoor grilling area.
“It was a privilege assisting Federal Capital Partners in further expanding the company’s South Carolina portfolio by sourcing this off-market apartment property,” said Calhoun. “Working for a client with a proven track record is always a pleasure, and FCP has one of the best in its field.”
FCP has owned or financed more than 21,000 multifamily units valued at more than $3 billion since 2002. The Gates at Summerville is one of many South Carolina properties in the investment firm’s portfolio. Other Charleston area properties include The Cigar Factory, Meeting Street Lofts (formerly East Central Lofts) and Plantation Oaks.
“Congratulations to Elliot and Andrew for completing this transaction,” said broker-in-charge/partner Thomas Boulware, CCIM. “It is a reflection of their work ethic as brokers, and signals a bright future ahead for them both.”
For more information, contact Elliot Calhoun at +1 (843) 518 5387 or [email protected].
About Federal Capital Partners
Federal Capital Partners (FCP) is a privately held real estate investment company that has invested in or financed more than $5.0 billion in assets since its founding in 1999. FCP invests in all asset classes and provides equity, preferred equity and structured debt investments for commercial and residential real estate. The firm, based in Chevy Chase, MD, owns and manages in excess of $2.3 billion in assets. FCP is currently investing its third investment fund, a recently closed commingled, discretionary fund targeted at real estate markets in the Eastern United States. For further information on FCP, please visit www.fcpdc.com.
About NAI Charleston
NAI Charleston is a full-service commercial real estate firm with industry experts who have over 80 years of combined experience in the Charleston commercial real estate industry. In 2017, local brokers Thomas Boulware, Dexter Rumsey, David Ingle and David Grubbs partnered together to found NAI Charleston as an independent franchise of NAI Global. NAI Global is a leading owner-operated commercial real estate network, with more than 400 offices and 7,000 market professionals in North America, Latin America, Europe, Africa and Asia Pacific.
Learn more at naicharleston.com.