West Shore, a fully integrated real estate investment firm with a specific focus on the acquisition and management of multifamily assets, announced its acquisition of The Preserve at Essex Farms in Charleston, South Carolina.
The purchase marks a major milestone for the fast-growing company, as it now owns and operates more than 15,000 units across the southeastern and southwestern United States since its founding less than eight years ago. This is West Shore’s ninth purchase in the Palmetto State, increasing its total units under ownership and operation in South Carolina to nearly 2,500.
“Our continued investment in the southeast, highlighted by our acquisition of The Preserve at Essex Farms in Charleston, marks a historic moment in West Shore’s sustained and impactful growth as the firm now owns and operates over 15,000 units across the United States,” said Lee Rosenthal, President of West Shore. “This acquisition and the 15,000-unit milestone West Shore achieved in under eight years underscores the success of our strategy that blends an entrepreneurial approach with institutional investment discipline in the ownership and operation of multifamily assets.”
The Charleston MSA has experienced an unprecedented 23% growth over the past decade, which is nearly three times the national average, positioning the area for continued rent and economic growth. The Preserve at Essex Farms provides a blend of urban and suburban living, providing easy access to shopping, dining, entertainment, and downtown attractions as well as units that offer a collection of amenities delivering modern solace and effortless style. Additionally, the apartment community offers easy access to Kiawah and Folly Islands, renowned for their miles of pristine beaches.
“The Preserve at Essex Farms is an exceptional apartment living experience located within a metro area that continues to benefit from unprecedented job growth and impressive levels of capital investment,” said Steven P. Rosenthal, Chairman of West Shore. “Charleston has the highest concentration of young professionals among all mid-size metros and continues to attract residents and jobs thanks to the area’s historic charm, temperate climate, and booming economy. The achievement of owning and operating 15,000 is a landmark that highlights our successful growth and corporate strategy.”
