Cushman & Wakefield announced that the commercial real estate services firm has arranged the sale of Monty, a 300-unit apartment community built in 2021, located in North Charleston, South Carolina.
Tai Cohen, Jordan McCarley and Robert Stickel of Cushman & Wakefield represented the sellers, Greystar Real Estate Partners and CP Capital, formerly HQ Capital Real Estate, in the transaction. Johnson Development Associates acquired the property.
“Monty offers its residents a top-of-market residential experience, with best-in-class features and amenities, as well as easy access to Charleston’s bustling peninsula, top job centers, and the popular, eclectic Park Circle neighborhood,” Cohen said. “Johnson Development Associates is excited to acquire a newly built Class A institutional-quality asset that has already demonstrated impressive leasing velocity and is perfectly positioned to capture top-of-market rental headroom.”
Monty’s community amenities include an expansive pool with outdoor entertainment, poolside kitchen pavilion, dog park, hammock garden, cornhole court, event lawn for morning yoga and movie nights, bocce ball court, fire pit, clubhouse with hospitality and WiFi, co-working lounge, conference rooms and breakroom café, fitness center and stretch room, on-site recycling, and 24-hour parcel lounge.
Cushman & Wakefield’s Sunbelt Multifamily Advisory Group ranks No. 1 in Sunbelt market share based on over 250 transactions and $6.2 billion in multifamily and land investment sales in 2020 (Source: Real Capital Analytics). Market share reflects number of sales for Alabama, Arkansas, Northwest Florida, Georgia, Kentucky, Louisiana, Mississippi, North Carolina, South Carolina, Tennessee and Texas.