Argyle Real Estate Partners has acquired Newbrook Point Hope, a 264-unit community located in Charleston, South Carolina. The acquisition marks Argyle’s first in the Charleston market.
“Argyle is pleased to tap into uncharted territory and close out the year with the acquisition of Newbrook,” says CEO Ryan Reyes. “Given its location and accessibility, the mint condition of the asset, and the development planned for the area, which we believe will help spur future growth, we’re confident that Newbrook will be one of our standout properties.”
Newbrook is at the epicenter of Point Hope, a master-planned development that contains single-family residential homes from top builders; multifamily housing; retail and office space; and public schools.
Built in 2021, Newbrook offers studio, one-, two-, and three-bedroom apartments with floor plans averaging over 1,000 square feet. Apartments include stainless steel appliances, quartz countertops, walk-in closets, modern fixtures, and full-size washers and dryers.
The property’s amenity suite, which draws its design and inspiration from the area’s coastal surroundings, offers a full-service clubhouse, a resort-style saltwater pool, a pickleball court, a fitness center, a dog park, and ample green space with community trails for walking, biking, and running with access to other neighboring attractions. Greystar will oversee operations on-site.
“Newbrook fits our investment criteria of buying well-located assets for below replacement cost in strong and desirable submarkets,” says Mike Cacciatore, principal for Argyle Real Estate Partners. “By being within walking distance to Publix, 30,000 square foot of quality retail, and A-rated public schools, Newbrook offers access to an unparalleled, walkable community that is and will remain desirable to prospective tenants over the long term.”
