Ares Management Corporation Acquires Development Site From Crosland Southeast & FCP For $16.5M

Ares Management Corporation purchased a development site located at 8918 Charlotte Highway in Fort Mill, SC. The sale price for the 16.4-acre site was $16.5 million, equating to $1,006,098 per square foot. The asset is designated for the development of 400 apartments with vertical construction expected to begin soon and completion anticipated in the first quarter of 2027.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $16,500,000
• Address: 8918 Charlotte Highway
• Market: Fort Mill, SC
• Square Footage: 16.4 acres
• Price Per Square Foot: $1,006,098
• Buyer: Ares Management Corporation
• Seller: Crosland Southeast & FCP
• Brokers: Travis Anderson, Hunter Barron & John Gavigan - JLL

This acquisition is part of a larger 130-acre mixed-use development that will also include retail spaces and townhomes, reflecting a collaborative effort with Crosland Southeast and FCP in the planning and execution of the project.