CHARLESTON, SC—When there are only two student housing properties in the entire community, you can bet on strong demand. That's the case in Charleston, SC. Investors snapped up 400 Meeting Street, a 160-bed, 41-unit student housing community there.
CMB Properties, a Charleston-based real estate investment management firm, purchased the property for $18.5 million from Davis Property Group. The asset is 100% occupied.
Not only is the four-story building is one of only two student apartment communities in the city, it is also centrally located. High-activity areas of the Charleston Peninsula surround the student housing complex.
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