Greystone Brown Real Estate Advisors Closes $54.1 Million Sale of Multifamily Property in Port Royal, SC

New York, New York, UNITED STATES


NEW YORK, Sept. 02, 2020 (GLOBE NEWSWIRE) -- Greystone Brown Real Estate Advisors announced it has closed the $54,100,000 sale of a multifamily property in Port Royal, SC. Greystone Brown represented the seller, Prominent Realty Group of Georgia, in the deal. The Greystone Brown team leading the transaction included Jim Jarrell, Steve Mack, and Walter Miller.

Located in an admired location in Port Royal, Preserve at Port Royal is located at 1 Preserve Avenue W. The multifamily asset consists of 400 units. The amenities include a newly remodeled fitness center, two swimming pools, library, two resident business centers, playground, dog park, detached garages, storage units, car care center, laundry center, two outdoor kitchens with grilling areas, and a bird sanctuary.

“Managing the sales process through the COVID-19 crisis was difficult, however we were able to keep the buyer focused on the opportunity and St. Clair Holdings did an excellent job in raising the debt and equity to get the deal closed,” said Mr. Jarrell, Senior Managing Director, Greystone Brown Real Estate Advisors.

About Greystone Brown Real Estate Advisors
Greystone Brown Real Estate Advisors is a commercial investment brokerage company specializing in the sale of multifamily and retail properties throughout the Southeast. The firm is one of the largest and oldest privately held apartment brokerage firms in the region. Greystone Brown real estate professionals are committed to understanding the objectives of maximizing yields and profits while being able to meet critical time frames. For more information, visit www.brownra.com.

PRESS CONTACT:
Karen Marotta
Greystone
212-896-9149
Karen.Marotta@greyco.com