Madison Capital Group Buys Multifamily Property in Downtown Charleston
Madison Capital Group LLC, an investment and advisory firm that sponsors private placement offerings, has purchased Foundry Point Apartments, a 275-unit multifamily community located in Downtown Charleston, South Carolina.
Madison Capital Group LLC, an investment and advisory firm that sponsors private placement offerings, has purchased Foundry Point Apartments, a 275-unit multifamily community located in Downtown Charleston, South Carolina. The purchase price was not disclosed.
Foundry Point is a mid-rise community located on the upper peninsula section of Downtown Charleston. The property is located blocks away from several restaurants and breweries and a short distance to downtown Charleston.
“Foundry Point is an asset that we plan to hold long term as we believe in the long-term growth of Charleston, particularly on the peninsula,” said Ryan Hanks, founder of Madison Capital. “The nearby corridor is continuing to transform, and we are excited to see how the area looks in 10 to 15 years.”
Madison Capital Group has been involved in the acquisition and development of 13 other communities in the Charleston metro area since 2009 and has two more communities planned in the downtown and West Ashley districts.
Madison Capital Group, based in Charlotte, North Carolina and Charleston, South Carolina, invests in real estate and private equity with a primary focus in the self-storage and multifamily sectors. Madison Capital is the parent company of Go Store It Partners, a non-traded direct investment sponsor that focuses on the self-storage.
