Charleston, SC, August 29, 2025
News Summary
The Housing Authority of the City of Charleston closed on 1800 Ashley West, a 209‑unit garden apartment community in West Ashley, for $39.75 million. The sellers were Urban Landings and Stonemark Capital, represented by Northmarq’s Charlotte Multifamily Investment Sales team. Built in 1980 and offering a mix of classic and renovated one‑ and two‑bedroom units, the community includes upgraded finishes and standard conveniences. Amenities include a resort‑style pool, outdoor fitness area and pickleball courts, plus a clubhouse, dog park and playground. The public‑sector acquisition underscores demand for multifamily assets to expand workforce and community housing options.
Despite challenges like rising costs and inventory concerns, regional and community banks are still drawn to a specific CRE asset class for construction loans. While the competition from private lenders remains fierce, bankers say opportunities for collaboration are also a factor at play.
Housing Authority of the City of Charleston buys 209‑unit 1800 Ashley West for $39.75M
The Housing Authority of the City of Charleston completed a purchase of the 1800 Ashley West garden apartment community for $39.75 million. The deal closed on a 209‑unit property at 1800 William Kennerty Dr., Charleston, South Carolina, roughly seven miles from downtown Charleston and located in the heart of West Ashley.
Key transaction details
The seller group included Urban Landings and Stonemark Capital. Northmarq’s Charlotte Multifamily Investment Sales team represented the sellers and led the transaction work. The Charlotte team on the sale was led by Dane Lozier, Ron Corrao and Eric Liebich. Broker commentary described strong investor demand for the West Ashley asset and noted that the Housing Authority pursued the acquisition to continue meeting community housing needs and to expand quality workforce housing in the metro area.
Property and unit mix
Built in 1980, 1800 Ashley West is a garden‑style apartment community offering one‑ and two‑bedroom homes across classic unit layouts and three tiers of renovated units. Units feature elevated finishes and spacious floor plans with available options such as granite countertops and stainless steel appliances. Flooring may include wood plank in living spaces and carpeting in bedrooms where applicable. Units are equipped with digital thermostats, ceiling fans, walk‑in closets, washer/dryer connections and high‑speed internet access.
Amenities and location
The community offers a range of resident amenities designed for active lifestyles and family living: pickleball courts, an outdoor fitness area, a resort‑style pool with sun deck, a fire pit with hammocks, a playground, clubhouse, dog park and an on‑site laundry facility. The site provides convenient access to local shopping, dining and entertainment and has nearby access to Interstate 526.
Brokerage and market context
Northmarq is described as a full‑service capital markets resource for commercial real estate investors, combining debt, equity, investment sales, loan servicing and fund management capabilities. The firm reports a loan servicing portfolio in excess of $78 billion and a three‑year transaction volume of $69.5 billion. The Charlotte Multifamily Investment Sales group has been active in the region across institutional and private capital deals.
Related multifamily transaction
In another recent multifamily trade handled by Northmarq’s Charlotte team, Trammell Crow sold Alexan Mill District, a 290‑unit apartment community at 1001 N. Brevard St., Charlotte, to the Seminole Tribe of Florida Sovereign Wealth Fund for $82 million. Built in 2024, the Alexan Mill District community includes studios, one‑ and two‑bedroom homes with private balconies and dual‑entry porches and a broad amenity set that includes rooftop and indoor/outdoor social spaces, a saltwater pool and a full suite of resident services.
Events and resources
An industry event, Connect Apartments on September 11, will examine affordability, innovation, market dynamics and investment opportunities shaping today’s multifamily landscape. Additional resources and firm background can be found at www.northmarq.com and the Connect Apartments site at www.connectapts2025.com.
Location tags
Charlotte, NC; Greenville, SC; Gastonia, NC (United States)
Byline and profile
Mike covers regional commercial real estate news and the Southwest market. He is a veteran reporter with a background in radio and television news and spent time as a communications executive for a public development company. He lives with his family and several Huskies.
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Frequently Asked Questions
Who purchased 1800 Ashley West?
The buyer was the Housing Authority of the City of Charleston.
What was the sale price and unit count?
The transaction closed for $39.75 million and included 209 apartment units.
Where is the property located?
The address is 1800 William Kennerty Dr., in the West Ashley neighborhood of Charleston, South Carolina, about seven miles from downtown.
What types of units and finishes are offered?
Units include one‑ and two‑bedroom homes, with a mix of classic and renovated options. Finishes and options include granite countertops, stainless steel appliances, wood plank floors in some units, bedroom carpeting where applicable, digital thermostats and washer/dryer connections.
What amenities does the community offer?
Amenity highlights include pickleball courts, an outdoor fitness area, a resort‑style pool and sun deck, a fire pit with hammocks, a playground, clubhouse, dog park and on‑site laundry.
Who represented the sellers?
Northmarq’s Charlotte Multifamily Investment Sales team represented sellers Urban Landings and Stonemark Capital, with the local sale led by Dane Lozier, Ron Corrao and Eric Liebich.
Is there related activity in the region?
Yes. A nearby high‑profile trade saw Alexan Mill District in Charlotte sell for $82 million, another transaction handled by Northmarq’s Charlotte team.
Key Features at a Glance
| Feature | Details |
|---|---|
| Sale Price | $39.75 million |
| Property | 1800 Ashley West (garden apartment community) |
| Units | 209 one‑ and two‑bedroom homes |
| Address | 1800 William Kennerty Dr., Charleston, SC |
| Buyer | Housing Authority of the City of Charleston |
| Sellers | Urban Landings; Stonemark Capital |
| Broker | Northmarq Charlotte Multifamily Investment Sales (Dane Lozier, Ron Corrao, Eric Liebich) |
| Year Built | 1980 |
| Notable finishes | Granite counters, stainless steel appliances, wood plank floors (in some units) |
| Amenities | Pool, pickleball, outdoor fitness, clubhouse, playground, dog park, fire pit with hammocks |
| Proximity | About 7 miles to downtown Charleston; easy access to I‑526 |
| Further info | www.northmarq.com |
Deeper Dive: News & Info About This Topic
Additional Resources
- Northmarq: 1800 Ashley West sale
- Wikipedia: West Ashley, Charleston
- ConnectCRE: Tribal wealth fund pays $82M for Charlotte apartment community
- Google Search: Alexan Mill District Charlotte
- MultiHousingNews: Mesirow Financial pays $84M for Charlotte community
- Google Scholar: Mesirow Financial Charlotte multifamily sale
- BusinessWire: Ginkgo Residential acquisition in Charleston MSA
- Encyclopedia Britannica: Charleston, South Carolina
- Axios: Apartment rents, construction and supply/demand in Charlotte
- Google News: Charlotte apartment rents 2025
Author: Construction CA News
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