280 UNIT APARTMENT COMPLEX IN NORTH CHARLESTON, SOUTH CAROLINA

One Eleven Partners is pleased to announce that Chris Yeagle and Kyle Chase recently brokered the  $12.5 million ($44,642 per unit) sale of Reserve at Ashley River, a 280 unit multifamily development located in North Charleston, South Carolina. 

The 1974 built property is composed of two and three bedroom units and is located next to Boeing’s growing campus where the 787 Dreamliner is produced.  Reserve at Ashley River features a swimming pool, clubhouse with coffee bar, children’s playground, and laundry facilities in each building.  One Eleven Partners last sold the Reserve At Ashley River in 2013 for $7.325 million ($26,160 per unit).  

“Market fundamentals are solid in Charleston and this submarket is benefiting from renters that are being priced out of neighboring areas such as West Ashley. The region’s sustained employment and population growth leaves the market primed for continued strong apartment performance.” - Chris Yeagle

Chris Yeagle and Kyle Chase brokered the transaction between the buyer, The RADCO Companies (Atlanta, GA), and the seller, URS Capital Partners (Huntington, NY).  This marks RADCO’s first multifamily acquisition in the Charleston market. URS Capital Partners continues to own three other apartment communities in the Charleston market. 

About One Eleven Partners:

One Eleven Partners is a Charleston, South Carolina based brokerage firm focusing exclusively on the sale of apartment communities and multifamily land throughout the southeastern United States.  Chris Yeagle, Managing Principal, has over seventeen years of multifamily brokerage experience. Find out more about One Eleven Partners at www.111partners.com. 

About The RADCO Companies (RADCO)

RADCO’s mission is “Building Better Living.” Based in Atlanta, the national real estate acquisition and redevelopment company was founded in 1994. The firm has grown its multifamily portfolio to include more than 15,000 units in the Southeast and Central U.S. Find out more about RADCO at www.radco.us.

About URS Capital Partners:

URS Capital Partners is a private real estate investment firm that focuses on acquiring value add apartment communities throughout the Southeast and Midwest. The company has closed over $70 million of acquisitions since their first apartment purchase in 2010. Find out more about URS Capital Partners at www.capitalpartners.com.