Updated Jul 8, 2026
SOLDMultiFamily
Prospect Lane Acquires Treehaven Apartments From Everett Knight For $11.85 Million In Summerville SC
400 Pinewood Drive
$11,850,000
$127/SF
Building Size
93,152 SF
Asset Type
MultiFamily
Closing
Jun 25, 2026
About this deal
AI
The multifamily asset, Treehaven Apartments, located at 400 Pinewood Drive in Summerville, SC, has been sold for a transaction price of $11,850,000. The property includes 88 units and spans a total square footage of 93,152, leading to a price per unit of $134,659 and a price per square foot of $127.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $11,850,000
- Units: 88
- Square Footage: 93,152
- Price Per Unit: $134,659
- Price Per Square Foot: $127
- Buyer: Prospect Lane
- Seller: Everett Knight
- Brokers: Jacob Vogel & Steve David - Rosewood Realty Group
- Date of Sale: 6/26/2026
This transaction marks the first sale of Treehaven Apartments in nearly 50 years since it was developed by the original developer, reflecting a significant change in ownership for this long-held asset.
Players
Market MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.34%
Cash-on-Cash
-0.38%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93