Downtown’s Micro Unit East Central Lofts Sells at $172k/u

East Central Lofts, a development of 72 micro units that opened in 2013, has sold to a joint venture that includes Federal Capital Partners, the firm that is also re-developing the Cigar Factory also downtown.  They paid $12.4M for East Central Lofts, or about $172k/u including excess land where they plan more apartments and some ground level retail.  Warren Wise has the announcement for The Post and Courier.

About charlestonCREblog

30 years' in the commercial real estate biz - investment sales, consulting, banker, appraiser, brokerage. Trained in Atlanta and moved to the Lowcountry in 2008 and now sharing offices in Charleston and Jacksonville, FL. Exclusive listings, buyer representation, and consulting/analysis to help clients make the best commercial real estate decisions.

Posted on April 29, 2015, in CHS, CHS Multi-Family, Development, The Post and Courier, Transactions and tagged , , . Bookmark the permalink. Leave a comment.

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