North Charleston, SC The Kalikow Group has closed on a 12-year Fannie Mae DUS loan in the amount of $22.26 million for its 4830 Wescott Apartments, a newly-constructed, 182-unit multifamily community located at 4830 Wescott Blvd. The property is owned by a joint venture between affiliates of The Kalikow Group, Breakers Capital Partners, and EYC Companies.
The lender is Arbor Commercial Funding I, LLC.
4830 Wescott features three-story wood frame buildings and resort-style amenities. The development is located within Dorchester County, one of the fastest growing counties in South Carolina and home to many of the area’s major employers such as Boeing, Daimler, Cummins and Mercedes-Benz. 4830 Wescott is within Wescott Plantation, a well-established 1,600-acre master planned development featuring quality neighborhoods, excellent public schools, a golf course and national retailers.
“This refinancing was an important step in the asset’s life cycle allowing us to secure very attractive long-term financing,” said Aaron Siegel, senior VP for The Kalikow Group.