Rockpoint & Realco Capital Partners Acquire 118-Unit Student Housing Community in Charleston

Rockpoint, a Boston-based real estate private equity firm, and Realco Capital Partners (RCP), a specialist in student housing investments, announced their acquisition of Summit Place, a Class A, mid-rise student housing community in Charleston, South Carolina. The transaction details were not disclosed.

Modern Student Housing

Summit Place is a contemporary, purpose-built housing complex adjacent to the College of Charleston campus in the Upper King Street area. It offers students a fully serviced, amenity-rich living environment with 118 units and 357 beds. Amenities include a fitness center, pool, and designated spaces for studying and relaxation. Tom Gilbane, Co-President and Managing Member at Rockpoint, expressed satisfaction in partnering with RCP to provide top-tier student living options.

Fully Furnished and Conveniently Located

Developed in 2020, Summit Place features fully furnished units with modern interiors and appliances, such as in-unit washers and dryers. Its prime location, within walking distance of the college and downtown Charleston, offers residents easy access to restaurants, hotels, and shopping venues.

Strong Market Demand

Jared Heuer, Managing Partner at RCP, highlighted Summit Place as a premier housing option for Charleston students. Since RCP's initial investment in 2022 and the implementation of their strategic plan, the property has experienced strong market demand for high-quality off-campus living. Heuer expressed excitement about continuing this growth trajectory in collaboration with Rockpoint.