Elan Midtown Sells At $64M – A Whopping $320k/u
In yet another landmark transaction in CHS, JPMorgan Chase investment fund has paid a whopping $64M for the 200-unit Elan at Midtown that Greystar teamed up with Prudential to build in 2013. That is a Charleston record price of $320,000 per unit, or a cap rate in the mid-5’s according to sources. John McDermott of The Post and Courier has the announcement.
Posted on October 17, 2014, in CHS Multi-Family, Development, Downtown CHS, The Post and Courier, Transactions and tagged elan midtown, Greystar, investment, jp morgan, Peninsula, sale. Bookmark the permalink. Leave a comment.