1800 Ashley West, a 209‑unit garden apartment community in West Ashley, features a resort‑style pool and extensive resident amenities.
Charleston, SC, August 29, 2025
The Housing Authority of the City of Charleston closed on 1800 Ashley West, a 209‑unit garden apartment community in West Ashley, for $39.75 million. The sellers were Urban Landings and Stonemark Capital, represented by Northmarq’s Charlotte Multifamily Investment Sales team. Built in 1980 and offering a mix of classic and renovated one‑ and two‑bedroom units, the community includes upgraded finishes and standard conveniences. Amenities include a resort‑style pool, outdoor fitness area and pickleball courts, plus a clubhouse, dog park and playground. The public‑sector acquisition underscores demand for multifamily assets to expand workforce and community housing options.
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Despite challenges like rising costs and inventory concerns, regional and community banks are still drawn to a specific CRE asset class for construction loans.
While the competition from private lenders remains fierce, bankers say opportunities for collaboration are also a factor at play.
The transaction for 1800 Ashley West, a 209‑unit garden apartment community at 1800 William Kennerty Dr., Charleston, South Carolina, closed for $39.75 million. The buyer was the Housing Authority of the City of Charleston. The sellers were Urban Landings and Stonemark Capital, with representation handled by Northmarq’s Charlotte Multifamily Investment Sales team led by Dane Lozier, Ron Corrao and Eric Liebich.
The sale marks a notable example of public‑sector acquisition within a competitive multifamily market. Brokerage leadership described the deal as evidence that both investors and government agencies continue to target assets in the Charleston area to expand workforce and community housing options. Brokerage sources also indicated investor demand for West Ashley properties remained strong and that the Housing Authority’s community mission was a significant factor in the acquisition push.
Built in 1980, 1800 Ashley West is a garden‑style development offering a mix of classic unit types and three tiers of renovated homes. The community contains one‑ and two‑bedroom homes across 209 units, featuring elevated finishes and spacious floor plans. Select units include granite countertops and stainless steel appliances, and options exist for wood plank floors with carpeting in bedrooms where applicable. All units include standard conveniences such as digital thermostats, ceiling fans, walk‑in closets, washer/dryer connections and high‑speed internet access.
The community offers a resort‑style pool and sun deck, an outdoor fitness area and pickleball courts. Additional resident amenities include a clubhouse, a fire pit with hammocks, a playground, a dog park and an on‑site laundry facility. The property’s placement in the heart of West Ashley gives residents easy access to local shopping, dining and entertainment, nearby Interstate 526, and it sits roughly seven miles from downtown Charleston.
The transaction was completed by Northmarq’s Charlotte Multifamily Investment Sales team, which represented the sellers. Northmarq describes itself as a full‑service capital markets resource offering expertise across debt, equity, investment sales, loan servicing and fund management. The firm reports a loan servicing portfolio north of $78 billion and a three‑year transaction volume of $69.5 billion. More information is available via www.northmarq.com.
In a separate deal handled by Northmarq’s Charlotte Multifamily Investment Sales team, a 290‑unit community, Alexan Mill District at 1001 N. Brevard St., Charlotte, sold for $82 million to the Seminole Tribe of Florida Sovereign Wealth Fund. That property was built in 2024 and includes studio, one‑ and two‑bedroom units with private balconies and dual‑entry porches. Amenities at Alexan Mill District include a community clubhouse, an indoor/outdoor speakeasy supper club with a catering kitchen, a rooftop lounge, a saltwater pool with sun ledge and outdoor fireplace, and a variety of resident‑oriented social and work spaces.
An industry event, Connect Apartments on September 11, will address affordability, innovation, market dynamics and investment opportunities shaping the multifamily sector. Event information can be found at www.connectapts2025.com.
Charlotte, NC; Greenville, SC; Gastonia, NC (United States)
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The property sold is 1800 Ashley West, a garden apartment community at 1800 William Kennerty Dr. in Charleston, South Carolina.
The sale closed for $39.75 million and the buyer was the Housing Authority of the City of Charleston.
The community contains 209 units made up of one‑ and two‑bedroom apartments, including classic units and three tiers of renovated options.
Amenities include a resort‑style pool, sun deck, outdoor fitness area, pickleball courts, clubhouse, fire pit with hammocks, playground, dog park and on‑site laundry.
Northmarq’s Charlotte Multifamily Investment Sales team represented the sellers, who were Urban Landings and Stonemark Capital.
Brokerage information is available at www.northmarq.com, which outlines the firm’s services in capital markets, debt/equity, loan servicing and fund management.
| Feature | Detail |
|---|---|
| Property | 1800 Ashley West — garden apartment community |
| Address | 1800 William Kennerty Dr., Charleston, SC |
| Units | 209 one‑ and two‑bedroom homes |
| Sale price | $39.75 million |
| Buyer | Housing Authority of the City of Charleston |
| Sellers | Urban Landings; Stonemark Capital (represented by Northmarq) |
| Built | 1980 |
| Unit features | Granite counters, stainless appliances, wood plank floors (select), digital thermostats, washer/dryer connections |
| Amenities | Resort pool, sun deck, pickleball, outdoor fitness, clubhouse, dog park, fire pit, playground |
| Proximity | Heart of West Ashley; ~7 miles to downtown Charleston; near I‑526 |
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