Northmarq facilitates $5.575M sale of 48-unit multifamily community in Lexington, SC
Photo credit: Strauss Studios
LEXINGTON, S.C. — Northmarq’s Charlotte Investment Sales team, led by Dane Lozier, Ron Corrao, Eric Liebich, Scott Fuller and Matthew Weinstein successfully facilitated the $5.575 million sale of Sweetbriar Apartments, a 48-unit multifamily community located at 200 Libby Lane in Lexington, South Carolina.
Northmarq represented the seller, InterMark Management Corporation. The buyer, Charis Capital, acquired the property as part of its investment strategy focused on well-positioned multifamily communities throughout the Southeast.
"We're pleased to have represented InterMark Management Corporation in this transaction and look forward to seeing the community continue to thrive under new ownership," Lozier said. "Congratulations to Wyatt Cole and the Charis Capital team on the acquisition and a seamless transaction."
The transaction reflects continued investor interest in quality multifamily communities across the Carolinas, particularly in high-growth suburban markets supported by strong demographic and economic fundamentals.
Built in 1988, Sweetbriar Apartments is a garden-style community comprising 48 one- and two-bedroom units. The property features renovated interiors, private balconies and in-unit washers and dryers.
"Sweetbriar Apartments offered investors the opportunity to acquire a well-maintained community in one of the Columbia region's most desirable suburban markets,” Lozier added. "Lexington continues to benefit from strong population growth, a diverse employment base and sustained renter demand, making assets like Sweetbriar highly attractive in today's investment environment."
Located near Interstate 20 and U.S. Highway 1, the community provides convenient access to downtown Columbia and many of the region’s top employment centers. Residents also benefit from proximity to a variety of shopping, dining, health care and recreational amenities, as well as access to Lexington’s highly regarded public school district.
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Northmarq is one of the largest privately held commercial real estate firms in the United States, combining a nationwide presence with deep local expertise. With more than 50 offices across the country, we provide a full suite of debt, equity, investment sales, loan servicing and fund management solutions for a comprehensive range of property types. Our unique structure allows us to connect clients with the best opportunities, yet be nimble enough to ensure access to every expert across our company. The firm manages a loan servicing portfolio of over $80 billion and has completed $91.3 billion in transactions over the past fours years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide.
