Fogelman Properties Acquires 132-Unit Multifamily In Summerville, SC For $23.8M

The multifamily property located at 1425 Old Trolley Rd in Summerville, SC has been sold. The property consists of 132 units and was sold for a total price of $23,800,000, resulting in a per unit price of $180,303. The buyer of the property is Fogelman Properties, while the seller is Burlington Capital Group. The transaction was facilitated by brokers Mark Boyce and Blake Coffey from Berkadia.

Summary of transaction details:

• Property Type: Multifamily
• Sale Price: $23,800,000
• Number of Units: 132
• Price per Unit: $180,303
• Buyer: Fogelman Properties
• Seller: Burlington Capital Group
• Brokers: Mark Boyce & Blake Coffey - Berkadia

The sale of this multifamily property marks a significant transaction in the Summerville, SC market. Fogelman Properties, represented by Mark Boyce and Blake Coffey from Berkadia, successfully acquired the property from Burlington Capital Group. This deal highlights the continued investment interest in the multifamily sector and showcases the expertise and negotiation skills of the involved parties.