Mike Underwood & Greg Bonifield Of Woodfield Development Acquire 285-Unit Mixed-Use Community In Charleston SC

The asset involved in the transaction is a mixed-use development situated at 1401 Sam Rittenberg Boulevard in Charleston, SC. This property comprises 285 units and spans over 31 acres, forming part of the larger Ashley Landing redevelopment site in West Ashley, South Carolina.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: Not specified
• Units: 285
• Acres: 31
• Buyer: Mike Underwood & Greg Bonifield
• Company: Woodfield Development
• Market: Charleston, SC
• Construction Financing: TD Bank
• Equity Source: PGIM
• Completion Date: Q3 2028
• Retail and Commercial Space: 240,000 square feet

Mike Underwood and Greg Bonifield, representing Woodfield Development, have undertaken the acquisition of the site. The project they will launch, known as Westbourne Ashley Landing, will serve as the residential component of the Ashley Landing redevelopment, which aims to create a vibrant community with multifamily housing and commercial spaces.