Berkadia Completes $27.6 Million Sale of Two Multifamily Properties in South Carolina
CHARLESTON, S.C. – July 20, 2022 – Berkadia announced today the sale of Aviary Village and The Cloisters, two multifamily housing properties located in South Carolina. Managing Director Mark Boyce and Director Blake Coffey of Berkadia Charleston Investment Sales completed the $27.6 million sale on behalf of the seller, New Jersey-based Eskay Management. The buyer was New York-based Aulder Capital, and the deal closed on July 18.
“The Myrtle Beach MSA is one of the fastest growing in the U.S.,” said Coffey. “The record migration and rent growth provides an excellent opportunity for the buyer.”
Aviary Village is located at 555 Wild Wing Blvd. in Conway, South Carolina. The 72-unit property features one- and two-bedroom floor plans with in-unit washers and dryers and private balconies or patios. Community amenities include a swimming pool, a fitness center and a playground. Residents are afforded convenient access to Myrtle Beach National, Conway Medical Center and the shops and restaurants near Edward E Burroughs Highway.
The Cloisters is located at 902 67th Ave. N in Myrtle Beach, South Carolina. The 88-unit property features one-bedroom floor plans with dishwashers. Community amenities include a swimming pool and laundry facilities. Residents are afforded convenient access to Pine Lakes Country Club, Grand Strand Medical Center and the shops and restaurants near North Kings Highway.