Woodfield Investments and Argosy Real Estate Partners have successfully secured a $120 million refinancing for the newly completed Morrison Yard Residences in Charleston. The 379-unit rental project, which also includes 27,608 square feet of ground-level retail space, was financed by Northwestern Mutual Life Insurance Company at a fixed rate of 6%.
Located at 838 Morrison Dr., the high-rise and mid-rise property boasts modern amenities such as outdoor courtyards, a saltwater pool with views of Charleston Harbor, a game room, and Bocce court. Situated on six acres along the Cooper River in downtown Charleston, it is conveniently located near the recently opened Morrison Yard office building.
According to CBRE’s Nate Sittema who arranged the loan for this venture: “Morrison Yard has experienced strong leasing since its initial opening and continues to do so even during its refinancing process.” This successful financing deal marks another milestone for Woodfield Investments and Argosy Real Estate Partners’ joint development project without mentioning any specific company names or locations.
