Cushman & Wakefield and Greystone recently announced their joint venture team had arranged the sale of Retreat at Palm Pointe, a 112-unit apartment community located in North Charleston, South Carolina. The multifamily property was sold by Cohen Investment Group for $13.25 million and acquired by Prospect Lane with acquisition financing provided by Greystone’s Fannie Mae DUS® loan.
John Phoenix, Senior Director at Cushman & Wakefield said “Retreat at Palm Pointe presented Prospect Lane the opportunity to acquire a well-maintained asset experiencing strong operational momentum and offering a proven value-add initiative on which to capitalize.” Built in 1991, Retreat is adjacent to high-end retail establishments within an area contributing significantly to Charleston’s booming economy.
