We represented Mid-America Apartments, L.P. (MAA) in a joint venture with Alliance Residential Holdings to acquire approximately 18.67 acres of land in Charleston, South Carolina, for the development of a 336-unit apartment community with a total development cost of $86.9 million. As part of the transaction, MAA, through a wholly owned subsidiary, provided a $52.14 million construction loan to support the project.
Joint Venture for $86.9 Million Multifamily Development
Joint Venture for $86.9 Million Multifamily Development
We represented Mid-America Apartments, L.P. (MAA) in a joint venture with Alliance Residential Holdings to acquire approximately 18.67 acres of land in Charleston, South Carolina, for the development of a 336-unit apartment community with a total development cost of $86.9 million. As part of the transaction, MAA, through a wholly owned subsidiary, provided a $52.14 million construction loan to support the project.