Braden Fellman Group Acquires Multifamily Portfolio In Charleston For $76M
1551 Sam Rittenberg Boulevard, Charleston, SC, USA
$76,000,000
Building Size
—
Asset Type
MultiFamily
Closing
Nov 8, 2021
AI
An investment group led by Braden Fellman Group has acquired three multifamily properties in Charleston, South Carolina. The properties include 1551 Sam Rittenberg Road, 1478 Orange Grove Road, and 2040 Ashley River Road. The transaction was completed on 11/08/2021 for a total sale price of $76,000,000. The portfolio consists of 498 units, with an average price per unit of $152,610.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $76,000,000
- Units: 498
- Price Per Unit: $152,610
- Address: 1551 Sam Rittenberg Road, 1478 Orange Grove Road & 2040 Ashley River Road
- Market: Charleston, South Carolina
The seller, Norman Radow, represented The RADCO Companies (RADCO) in the deal. The broker for the transaction was Andrew Mays from Berkadia. They played a key role in facilitating the successful sale of these properties.
Players
Charleston MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.21%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93