Northmarq’s Investment Sales team completes $39.75M sale of 1800 Ashley West apartments in Charleston, SC

CHARLESTON, S.C. — Northmarq’s Charlotte Multifamily Investment Sales team led by Dane Lozier, Ron Corrao and Eric Liebich successfully completed the $39.75 million sale of 1800 Ashley West, a 209-unit garden apartment community located at 1800 William Kennerty Dr. in Charleston, South Carolina.

Northmarq represented the seller, Urban Landings and Stonemark Capital. The buyer was the Housing Authority of the City of Charleston.

“This transaction speaks volumes to the appetite of both investors and government agencies alike in Charleston," Lozier said. "Both aligned in expanding upon Charleston’s red-hot rental market in the spirit of improving quality workforce housing in the MSA."

“Investor interest in this West Ashley asset was strong, but the City of Charleston Housing Authority’s interest in acquiring the asset to continue serving the housing needs of the community was a driving force behind its push to complete the acquisition,” added Corrao.

Built in 1980, the 1800 Ashley West community features a mix of classic units and three tiers of renovated units. It features one- and two-bedroom homes with elevated finishes and spacious floor plans. Units include options for granite countertops and stainless steel appliances as well as wood plank floors, carpeting in bedrooms, digital thermostats, ceiling fans, walk-in closets, washer/dryer connections and high-speed internet access.

Residents enjoy resort-inspired amenities including pickleball courts, an outdoor fitness area, resort-style pool, sun deck, fire pit with hammocks, playground, clubhouse, dog park and on-site laundry facility.

Located in the heart of West Ashley, it boasts easy access to local shopping, dining and entertainment. It has nearby access to Interstate 526 and is roughly seven miles from downtown Charleston.