Cushman & Wakefield Arranges $28.7 Million Construction Loan For PADS 216 In Charleston SC
216 Spring Street
$28,700,000
Building Size
—
Asset Type
MultiFamily
Closing
Feb 18, 2026
AI
The asset involved in the transaction is a multifamily development located at 216 Spring Street in Charleston, SC. The deal consists of a construction loan amounting to $28,700,000, facilitated for the development of PADS 216.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $28,700,000
- Lender: RMWC
- Broker: Kristian Brown - Cushman & Wakefield
- Loan Type: Construction
- Developers: Orange Properties, Ivy Capital, Crown Global Investments
The transaction was arranged by Cushman & Wakefield, represented by broker Kristian Brown, highlighting their role in facilitating the construction loan for the project. The development is situated in Charleston's Upper Peninsula, indicating its strategic location within the market.
Players
Charleston MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.55%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93