The Boulevard, a centerpiece in the revitalization efforts of Coleman Boulevard in Mount Pleasant, has changed hands just weeks after it was completed.
The Beach Co., the Charleston-based firm that developed the mixed-use property, said the sale closed in January. The firm declined to cite specifics of the deal.
Charleston County records show the property was sold to TR Boulevard Corp., for $66.5 million.
Records show the buyer is a Delaware entity tied to Chicago-based property investment firm Heitman Capital Management LLC.
A spokeswoman for Heitman was not available for comment Wednesday.
The Boulevard property will be managed by Charleston-based multifamily operators and developer Greystar, officials said.
The January sale closed roughly a month after The Beach Co. held a ribbon-cutting ceremony to officially mark the opening of the 5.95-acre project along Coleman, near Pherigo Street.
Officials have said the development cost of the project was about $40 million.
John Darby, president of The Beach Co., said Wednesday the firm's goal is to establish landmark properties like The Boulevard that will "improve the quality of life for our neighbors and contribute to the long-term economic vitality of the area."
"The fact that the quality of the project and its location in Mount Pleasant were both recognized as an attractive investment by the buyer, affirms that the town of Mount Pleasant and The Boulevard are on the right track," he said.
The Boulevard is made up of three four-story buildings housing 325 upscale urban residential apartments, which rent for $975 to $2,600 per month. The project also includes about 15,000 square feet of first-floor space for the leasing office and street-level retail and restaurants. The list of retailers so far has included Stox Salon and Day Spa and Maverick Southern Kitchens.
The Boulevard has been called a major piece in the efforts to transform one of Mount Pleasant's major thoroughfares into a vibrant main street.
The Coleman Boulevard Revitalization Project was unveiled in 2008 and includes changes such as on-street parking, lower speed limits and improved bicycle access. The changes are being implemented in various phases.
The busy roadway also has added more retailers, including the high-profile grocer Southern Season at the former Food Lion space directly across the street from The Boulevard.