CHARLESTON, SC – AUGUST 2, 2021 – Berkadia announced today the sale of Oasis at West Ashley, a garden-style multifamily property in Charleston, South Carolina. Managing Director Mark Boyce and Director Blake Coffey of Berkadia Charleston led the transaction on behalf of the seller, New York-based URS Capital Partners. The deal closed July 27.
Oasis at West Ashley sold for $19.45 million. The sales price reflects a per-unit price of $167,672. The property was 96 percent occupied at the time of the sale.
“This was a great transaction and good example of the demand we’re seeing in the Carolinas. Oasis at West Ashley was well maintained and had gone through a light renovation,” said Boyce. “The new buyer will be able to capitalize on the remaining upside and continued growth in the area.”
Oasis at West Ashley was built in 1979 and features 116-units with newly renovated kitchens, walk-in closets and select units with patio or balcony options. Located at 1751 Dogwood Road, the property affords excellent connectivity to Joint Base Charleston, Boeing, and Charleston International Airport.