Trion Properties Continues Southeast Expansion with Acquisition of 312-Unit Multifamily Community in Charleston, SC

Latitude at West Ashley apartments 
735 Ashley Hall Road
Charleston, SC 29407  

 

CHARLESTON, SC, Dec. 30, 2021 – Trion Properties, a private equity real estate firm based in West Hollywood, California and Miami, Florida specializing in multifamily investments, has expanded its Southeast presence with the acquisition of Latitude at West Ashley, a 312-unit multifamily community in Charleston, South Carolina for $51.8 million.  

 The firm entered the Southeast market in September with the acquisition of Crescent Commons, a 288-unit multifamily community in Fayetteville, North Carolina, followed by the purchase of Patterson Court, a 384-unit luxury multifamily community in Orlando, Florida, in November. 

Max Sharkansky

This continued growth within the region speaks to the firm’s strong reputation and ability to rapidly expand into new markets based on strong relationships and a deep understanding of the multifamily investment market and trends, according to Max Sharkansky, Managing Partner at Trion Properties.  

“Charleston is a lucrative market that we have been actively looking to expand into as we continue to strategically acquire properties in areas that have proven resiliency and are experiencing population and employment growth,” says Sharkansky.

 “Latitude is an ideal asset as it’s situated on the east side of the West Ashley submarket, which is less than 10 minutes from downtown Charleston and the Charleston airport, the two largest employment centers in the area.

 "These strong employment fundamentals are met with a growing population that will help generate long term renter demand for the property.”  

 

Marley R. Dominguez

Marley Dominguez, Director of Acquisitions at Trion Properties, adds: “The Charleston region’s population is increasing three times faster than the U.S. average, boasting 33 new residents each day.

 A growing list of major corporations and industrial tenants have opened facilities in the area, lured by tax incentives and quick access to the expanding Port of Charleston.” 

 Constructed in two phases in 1968 and 1973, Latitude at West Ashley consists of one-, two-, and three-bedroom units averaging 954-square feet.

Mitch Paskover

 Approximately half of the units are townhome style. The community is comprised of 22 two-story wood-framed buildings, as well as a pool deck with BBQ grills and cabanas, fitness center, and on-site laundry facilities. 

 Latitude at West Ashley is located at 1735 Ashley Hall Rd, Charleston, SC 29407.  

 The principals of Trion Properties are Max Sharkansky and Mitch Paskover, two real estate professionals with over 30 years of combined experience in finance, acquisitions, management and redevelopment.

 

CONTACTS:

Elisabeth Manville / Anthea Davis   

The Smart Agency, Inc.  

(949) 438-6262 

andavis@thesmartagency.com  

https://trionproperties.com/.