Investment sales on target for a record year
According to Real Capital Analytics, Charleston area investment sales (over $3 million) for the mid-year 2018 totaled approximately $545 million, on pace for an annualized $1.09 billion, which would eclipse 2017’s record of $1.06 billion.
Continuing to lead the pack in volume is multifamily (apartment) sales at $230.5 million, or approximately 42% of the total sales volume. There have been 14 communities sold through mid-year 2018, totaling 1,924 units, including seven complexes under 125 units. Sales prices ranged from $63,000 per unit to $193,000 per unit; the overall average price per unit averaged $120,000. The largest multifamily transaction was The Heyward at just over $48 million or $185,000 per unit; it is a new 260-unit community off Savannah Highway in West Ashley, purchased by Carter Haston out of Nashville.
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