Source: Militello Capital / #Multifamily #Apartments
CHARLESTON, SC - Militello Capital, a greater Washington, DC private equity investment firm, announces the acquisition of Hampton Oaks Apartments, a 160-unit multi-family apartment community in Charleston, South Carolina.
The property consists of one and two-bedroom units in the sought-after North Charleston area. Charleston has experienced booming population growth as new residents have flocked to the high quality of life, coastal amenities, and growing employment base. Over the past two decades, North Charleston has led the state in retail sales volume.
Also with the arrival of Boeing’s 787 Dreamliner facility in 2011, the city gained international stature as one of the only four places in the world for the manufacture and assembly of wide-body commercial aircrafts.
“The Charleston market continues to impress us with its strong employment and population growth,” says Matt Brady, Co-Founder and Chief Operating Officer of Militello Capital. “When we evaluate markets for our real estate portfolio we are looking for young people and cranes, and Charleston has a lot of both.”
Militello Capital is a Northern Virginia-based private equity investment manager working exclusively with registered investment advisers (RIAs) who aim to broaden their portfolio allocations to include entrepreneurs and real estate. Militello’s investment philosophy and strategy are based on the principle that today’s wealth is created in the real economy. The firm currently offers RIAs two distinct investment strategies that complement their existing portfolios: direct investments in income-producing commercial real estate and emerging technology venture capital.