Rowin Capital, Penny Lane Associates Buy $16M Multifamily in Johns Island
A partnership managed by Rowin Capital and Penny Lane Associates has acquired Forest at Fenwick, an 80-unit multifamily property located in the Charleston submarket of Johns Island, SC, for $16.3 million. John Phoenix, Richard Gore and Tyler Fish of commercial real estate services firm Cushman & Wakefield‘s represented the seller, Southwood Realty/Triangle Real Estate, in ... The post Rowin Capital, Penny Lane Associates Buy $16M Multifamily in Johns Island appeared first on Connect CRE.
A partnership managed by Rowin Capital and Penny Lane Associates has acquired Forest at Fenwick, an 80-unit multifamily property located in the Charleston submarket of Johns Island, SC, for $16.3 million.
John Phoenix, Richard Gore and Tyler Fish of commercial real estate services firm Cushman & Wakefield‘s represented the seller, Southwood Realty/Triangle Real Estate, in the transfer to private real estate investment firm Rowin Capital and Penny Lane Associates.
“Forest at Fenwick provided the buyer a proven value-add opportunity to capitalize on a well-maintained asset in a thriving Charleston submarket,” said Phoenix.
The 2005-constructed Forest at Fenwick is in area that is walkable to restaurants and grocers on Maybank Highway. The property includes swimming pool with sundeck, poolside gas grill, fire-pit, 24-hour fitness center, coffee bar and screened-in outdoor lounge.
The post Rowin Capital, Penny Lane Associates Buy $16M Multifamily in Johns Island appeared first on Connect CRE.
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