Aline Capital's Multifamily Advisory Group Completes Sale of Charleston Apartment Complex

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Oct 14, 2021, 14:18 ET

CHARLESTON, S.C., Oct. 14, 2021 /PRNewswire/ -- Aline Capital's Multifamily Advisory Group has completed the sale of Forest Cove Apartments in Charleston, SC. The 184-unit sale was completed at a total sales price of $21,500,000. Aline Capital worked as a transactional broker assisting the seller, Edac Enterprises. Eskay Management was the purchaser in the transaction. The Multifamily Advisory Group has previously completed several transactions involving the purchaser out of New Jersey.

"Forest Cove is a well-located property that is near Eskay's other Charleston-based asset. This property was one of the few remaining owner-built and managed assets in the State. The sellers are happy to exit after a lifetime of ownership," provided Jonathan Kessler of Aline Capital.

"Forest Cove is an asset that we have had our eye on for some time. We have also been actively trying to grow our presence in the Charleston market. Forest Cove will provide us with a stronger presence in this market and the Carolinas in general," said Jay Schecter of Eskay Management.

The sale represents one of many current transactions in the Charleston market for Aline Capital's investments sales platform as the firm has become very active in the Lower State.

Aline Capital is a fully-integrated commercial real estate and capital markets advisory firm headquartered in Greenville, SC. The firm offers investment sales, leasing, and debt & equity advisory services to commercial real estate developers and investors. For more information please visit www.alinecapital.com.

SOURCE Aline Capital, LLC