COLUMBIA, S.C., March 30, 2021 /PRNewswire/ -- Aline Capital's Multifamily Advisory Group recently completed the sale of a 152-unit multifamily complex in the Rosewood neighborhood of Columbia, SC. The transaction was led by Britt Gillespie and Jonathan Kessler of Aline Capital who represented DBC Real Estate Management, LLC, its affiliated ownership, in the sale. The property, Shandon Crossing Apartments, was acquired by a private investment group based in Phoenix, AZ. The new owner intends to complete a full-scale renovation of the property to bring it to market expectations.
Aline Capital's Capital Markets Team brought their client who was looking for a replacement property in a 1031 exchange as the Purchaser on the transaction. Scott Williams and JD Lehman of Aline Capital also procured the financing for the acquisition on behalf of the Purchaser. The sale at $8,150,000 represents a favorable price for both Buyer and Seller. The transaction was conducted off-market.
Michael E. Hess, CFO of DBC Real Estate Management, LLC, shared the following, "Britt provided unparalleled service in his facilitation of this transaction including the sourcing of the relationship and assistance in due diligence all the way through closing. The persistence and attention to detail, in all facets, resulted in a smooth transition from Seller to Buyer. DBC Real Estate Management, LLC and its affiliated ownership entities hold Aline Capital in the highest regard for its professionalism, transparency and integrity as demonstrated in this $8.15mm disposition. We look forward to working with them in the future."
DBC Real Estate Management, LLC is a direct investment firm with a primary focus in the Class B Multifamily market. The firm is based in Warrendale, PA and has a portfolio of over 4,000 multifamily units spanning multiple states.
Aline Capital is a fully-integrated commercial real estate and capital markets advisory firm headquartered in Greenville, S.C. The firm offers investment sales, leasing, and debt & equity advisory services to commercial real estate developers and investors. All commercial real estate activities are conducted under ACIRE, LLC. For more information please visit www.alinecapital.com.
SOURCE Aline Capital, LLC