Fogelman buys Summerville residences > Charleston Enterprise Journal

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Fogelman Properties of Memphis, Tenn., purchased Westbury Mews in Summerville. (Photo/Provided)Fogelman Properties has bought Westbury Mews, a 132-unit condominium group in Summerville.

Fogelman is likely one of the nation’s largest privately-owned multifamily funding and property administration corporations, in keeping with a information launch from the corporate.

Inbuilt 1988, Westbury Mews options one, two and three-bedroom condominium houses with rental charges at present starting from $975-$1,420. The property is 97% occupied and will probably be managed by Fogelman. The corporate’s funding plan entails a full renovation of the unit interiors, signage, landscaping, clubhouse and amenity areas, the information launch mentioned.

Fogelman acquired Westbury Mews by way of a three way partnership with Thackeray Companions. Collectively, the Fogelman and Thackeray partnership has acquired 16 multifamily communities now totaling greater than 3,000 items.

“We’re happy to announce the acquisition of Westbury Mews with our longtime associate, Thackeray. The property is prominently located on a significant street artery, with quite a lot of main employers within the well being care, aerospace and superior manufacturing sectors all close by,” Mike Aiken, senior vp of investments Fogelman, mentioned within the launch. “With one of many largest inbound migration percentages within the nation, Charleston is a confirmed, top-performing market and we’re thrilled to increase our footprint within the space.” 

Since January 2022, Fogelman and its funding companions have acquired 5 multifamily communities totaling greater than 1,100 items for an mixture price of $190 million, the discharge mentioned.

“We’re excited to proceed increasing our funding portfolio in one of many strongest and most

vibrant areas of the nation,” Mark Fogelman, president of Fogelman Properties, mentioned within the launch. “We’re grateful for our funding companions and look ahead to substantial progress all year long.”

In different industrial actual property transactions:

7123 Cross Country Road in North Charleston. (Photo/Provided)Picture Todd Garrett and Tradd Varner of Avison Younger represented the owner, TAE Leases LLC, within the lease of two,800 sq. toes of business area at Unit 200-A at 7123 Cross County Street in North Charleston to Personal and Private Transportation LLC. Dixon Pearce of Darby Growth represented the tenant.


Phil Rose and Keith Mayfield of Twin Rivers Capital represented the vendor, Twin Rivers Capital, within the sale of .85 acres of retail area at Foxbank Towne Heart. Freeway 52, Moncks Nook to Bojangles.


Caine Halter of Coldwell Banker Industrial Atlantic represented the tenant, Holliday Ingram, within the lease of 5,000 sq. toes of workplace area at 801 Nexton Sq. Drive in Summerville.


J.R. Caldwell and Bob Caldwell of Caldwell Industrial Actual Property Companies represented the owner, 1384 Remount Street LLC, within the lease of 6,280 sq. toes of workplace area at 1384 Remount Street, North Charleston to TB&T Woodworking Inc.


Trey Lucy and Kevin Shields of Belk Lucy represented the owner within the lease of two,100 sq. toes of warehouse area at 502 Wando Park Boulevard, Unit 108, in Mount Nice to Victoria Dunn Design. Taelor Pryor of The Boulevard Co. represented the tenant.


Trey Lucy and Blair Belk of Belk Lucy represented the owner within the lease of 1,200 sq. toes of retail area at 1890 Sam Rittenberg Boulevard, Suite 114, in West Ashley to InMotion Wellness Studio.

Attain Ross Norton at 864-720-1222.

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