Fairfield acquires apartment community on Johns Island, S.C.

Fairfield has acquired The Apartments at Shade Tree, a 248-apartment housing community offering one-, two- and three-bedroom floor plans and the opportunity for residents to live on Johns Island, S.C., in the Charleston MSA.

“We are thrilled about the opportunity to acquire another asset in Charleston, especially in one of the most supply-constrained locations in the submarket,” said Daniel McArthur, acquisitions officer at Fairfield. “The attractive assumable financing propelled the deal, which fit very well with our core-plus strategy. Intended to be a long-term hold, this asset will benefit from its adjacency to two mixed-use districts in the well-established Maybank commercial corridor, which includes 150,000 square feet of retail, office and flex space, and a soon-to-be-built 50-bed hospital.”

The Apartments at Shade Tree offer modern apartment homes with durable wood-style flooring and beautiful finishes. Amenities include a 24-hour fitness center, a salt