South Carolina Apartment Community Sells for $175,000 Per Unit
Cushman & Wakefield has arranged the $39.2 million sale of The Tremont, a 224-unit apartment community located in Cayce, South Carolina, in the Columbia MSA. Tai Cohen, Jordan McCarley and Alex Brown of Cushman & Wakefield represented the seller, Standard Capital Partners, in the transaction. Advenir, LLC acquired the property.
“We are excited to enter the diverse and expanding economy of Columbia with the acquisition of The Tremont, a premier Class A asset,” said Matt Zaverucha, Acquisitions Associate at Advenir, LLC.“The Tremont is a strong complement to our portfolio of properties.”
Built in 2016, The Tremont is urban Columbia’s premier upscale multifamily property, located in close proximity to the area’s foremost employment centers. Additionally, residents are within walking distance of the University of South Carolina and Downtown Columbia and have private access to the nearly eight-mileCayce Riverwalk.
“Alex Brown, Tai Cohen, and the entire Cushman & Wakefield team have done a fantastic job for us on yet another transaction,” said Hunter Gibson, Manager at Standard Capital Partners. “Not only did they drive a fair valuation with a good buyer, but they managed the entire process with flawless execution.”
Cushman & Wakefield’s Southeast Multifamily Advisory Group ranked No. 1 in market share in 2018 based on closed transactions, totaling over $5 billion in sales volume. For more information about Cushman & Wakefield’s Southeast Multifamily Advisory Group, visit https://multifamily.cushwake.com.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with 48,000 employees in approximately 400 offices and 70 countries. In 2017, the firm had revenue of $6.9 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.
