Atlanta-based firm acquires 344 units in prime location
ATLANTA (January 5, 2021) – Audubon, an Atlanta-based real estate firm specializing in the acquisition, development and management of multifamily properties, announced it has closed on the purchase of Harbor Pointe, a 344-unit community sitting on 32 acres in Mount Pleasant, SC. Immediately following the acquisition, Audubon has rebranded the property The Cooper.
Originally constructed in 1987, The Cooper delivers an unparalleled location in the greater Charleston area, as the vibrant downtown district is just a six-minute drive from the community. Additionally, The Cooper offers access to one of the most desired public-school districts in the area and is only a short walk from destinations like the main retail hub of Mount Pleasant and the Arthur Ravenel Jr. Bridge.
“Given the growing demand in the market, we are ecstatic about this acquisition and the opportunities it provides us in Charleston,” said Myles Cunningham, chief investment officer for Audubon. “Even if you could drop a pin anywhere on the map, it would be nearly impossible to find a better location than we have with The Cooper, and we can’t wait to begin a capital improvement program to make it a first-class community from top to bottom.”
Audubon has aggressive plans to rebrand and redevelop the property over the next 24 months, with top-of-the-market finishes planned for all of the unit interiors and new siding, windows, doors and paint for the exteriors. Additionally, the community’s gathering spaces will receive a complete overhaul, with ground-up construction of a new clubhouse, leasing office and amenity center.
Audubon previously set up roots in the Palmetto State in June of 2019 with the acquisition of Retreat at Waterside in Greenville, a 378-unit community it continues to own and operate today. Including the purchase of The Cooper, Audubon currently counts nearly 6,000 units across 20 properties in its overall multifamily portfolio.
Audubon is an Atlanta-based firm specializing in the acquisition and management of multifamily properties throughout the Southeastern region of the United States. With a senior staff that has collectively acquired, managed, and renovated more than 50,000 apartment units, Audubon has a wide range of experience and expertise in repositioning multifamily assets. For more information, please visit https://www.acmapts.com.