The Southern @ 1501 Caters to the University of South Carolina
Cushman & Wakefield has arranged the sale of The Southern @ 1501, a 350-unit student housing community located in Columbia, South Carolina. Travis Prince and Victoria Marks of Cushman & Wakefield’s Student Housing Capital Markets Group, along with Jordan McCarley and Paul Marley of Cushman & Wakefield’s Southeast Multifamily Advisory Group, represented the seller, a CMBS Trust, in the transaction. Emet Capital Management acquired the property.
“This transaction was smooth and efficient, and we are excited for new ownership to expand their portfolio with this solid asset in Columbia’s expanding market,” said Mark Miller, Senior Vice President of LNR Partners, the service provider for the CMBS Trust.
Built in 2007 and 2008, the property is comprised of 350 units and 1,002 beds. The Southern @ 1051 is a value provider in the market and caters to the University of South Carolina, a Power Five, Tier One university.
“The Southern @ 1051 offers Emet Capital Management the opportunity to build immediate scale in a nationally recognized market while achieving immediate, significant upside through proven value-add enhancements to both phases of the property,” Prince said.
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 approximately 51,000 employees in 400 offices and 70 countries. In 2018, the firm had revenue of $8.2 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.comor follow @CushWake on Twitter.
