Greystone Brown Real Estate Advisors announced it has closed the $54,100,000 sale of a multifamily property in Port Royal, SC. Greystone Brown represented the seller, Prominent Realty Group of Georgia, in the deal. The Greystone Brown team leading the transaction included Jim Jarrell, Steve Mack, and Walter Miller.
Located in an admired location in Port Royal, Preserve at Port Royal is located at 1 Preserve Avenue W. The multifamily asset consists of 400 units. The amenities include a newly remodeled fitness center, two swimming pools, library, two resident business centers, playground, dog park, detached garages, storage units, car care center, laundry center, two outdoor kitchens with grilling areas, and a bird sanctuary.
“Managing the sales process through the COVID-19 crisis was difficult, however, we were able to keep the buyer focused on the opportunity and St. Clair Holdings did an excellent job in raising the debt and equity to get the deal closed,” said Mr. Jarrell, Senior Managing Director, Greystone Brown Real Estate Advisors.