March 01, 2021
Charleston, S.C. – Transwestern Investment Group (TIG®) announces the acquisition of Daniel Island Village, a 283-unit apartment community at 455 Seven Farms Drive in Charleston, South Carolina.
“We believe the asset’s location in the upscale, master-planned community of Daniel Island and highly skilled and well-educated workforce make Daniel Island Village an attractive investment opportunity,” said Wes Davidson, Vice President at TIG. “We see upside potential through repositioning the asset to take advantage of continued population growth and strong demographic trends in Charleston.”
Currently 95% leased, Daniel Island Village was originally built in 2009. With 16 garden-style buildings, the property offers residents a clubhouse, pool lounge with grilling stations, fitness room, business center, ample covered parking, and lush landscaping with courtyards, walking trails and pond views. The property’s large average unit size of 1,055 square feet and variety of floorplans caters to the affluent local demographics.
Daniel Island Village features numerous shops, restaurants and a major tennis stadium within a short bike or golf cart ride. Additionally, the property’s proximity to Interstate 526 provides easy access to Charleston’s major employers, an international airport, downtown and local beaches. Daniel Island Village benefits from a median household income of more than $108,000 within a 1-mile radius.
Alex Okulski, John Heimburger, Dean Smith, Sean Wood, John Munroe and Jason Kon with Newmark represented the seller in the transaction. Newmark’s Josh Davis and C.J. Webb arranged the financing on behalf of TIG.
About Transwestern Investment Group
Transwestern Investment Group (TIG®) is a real estate investment adviser with $4.7 billion of assets under management as of December 2020. The firm serves a broad range of institutional and high-net-worth clients with its full-service investment management and Transwestern’s integrated operating platform.
The privately held Transwestern companies have been delivering a higher level of personalized service and innovative real estate solutions since 1978. An integrated approach formed from fresh ideas drives value for clients across commercial real estate services, development, investment management and opportunistic programs for high-net-worth investors. The firm operates through 34 U.S. offices and global alliances with BNP Paribas Real Estate and Devencore. Learn more at transwestern.com and @Transwestern.
This document does not constitute an offer, solicitation or recommendation to sell or an offer to buy any securities, investment products or investment advisory services. Any offer or solicitation will be made only pursuant to a confidential private placement memorandum and subscription documents (the “Offering Materials”) and will be subject to the terms and conditions contained in such Offering Materials.
The clients included in this press release were not selected based on performance, but because they are some of the largest well-known clients with similar strategic alliances. It is not known whether these clients approve or disapprove of TIG or the services or products it provides.