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New N. Charleston apartment complex fetches $47 million
A recently completed four-story apartment complex in North Charleston has a new owner.
An affiliate of Middle Street Partners of Charleston recently sold the 280-unit Atlantic on the Boulevard Apartments at 2155 Morris Baker Blvd. off Rivers Ave. near Ashley Phosphate Road to an affiliate of real estate investment firm Milburn & Co. of Salt Lake City for $46.7 million.
In South Carolina, the Utah-based company also owns the 290-unit Latitude at Wescott Apartments in North Charleston and the 305-unit Millennium Apartments in Greenville.
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The first settlers in what would become Charleston started on 9 acres at what was once called Albemarle Point and Charles Town Landing beside the Ashley River in April 1670. The site in West Ashley is now a state park that will soon reopen.
By the numbers
1: May date that state parks will reopen across South Carolina after being shut down for a month because of the coronavirus pandemic.
2: Number of acres Refuel convenience store chain bought for $1.4 million in the Carnes Crossroads development of Goose Creek.
35: Number of years Subway sandwich chain restaurant operated on King Street in Charleston before it closed recently.
This week in real estate
+ Walled city: Charleston's peninsula could once again become a walled city for the first in centuries if the results of a flooding-protection study come to fruition.
+ Berkeley boom: Once-rural Berkeley County faces city-sized challenges as mega-developments bring benefits but strain roads, schools and services.
+ Road squabble: Carolina Park residents in Mount Pleasant aren't happy with the town's plans to build a 300-yard road where a walking trail now exists along a small lake.
A large, new speculative industrial building should be completed by September in the 31-acre Portside Distribution Center project beside Interstate 26 (upper right) near Summerville. It's the first of two buildings slated for the site.
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