February 11, 2020
Multifamily owner-operator American Landmark Apartments has acquired The Tradition at Summerville, a 232-unit multifamily property in the Charleston suburb of Summerville, S.C. The sales price was not disclosed.
Built in 2004, Tradition at Summerville is located at 325 Marymeade Dr. One, two- and three-bedroom units include open floor plans, crown molding, screened patios and full-size washer and dryers. Community amenities feature a fireside lounge, outdoor summer kitchen, business center, nature trail, swimming pool, fitness center and lounge.
American Landmark plans to implement $2.7 million in capital improvements at the project and will rename it The Bryant at Summerville. Unit upgrades include granite countertops, new cabinets, backsplash, stainless steel appliances, nickel-brushed plumbing fixtures, luxury lighting fixtures, USB outlets and electronic locks. For the site, improvements include a grilling table, dog park and a renovated fitness center, as well as a swimming pool and landscaping.
Alex Okulski, Sean Wood, John Heimburger, Dean Smith, John Munroe and Jason Kon of NKF brokered the transaction on behalf of the undisclosed seller.
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