Trei Real Estate GmbH (Trei), an international developer and asset manager for residential and retail real estate, just sold its second residential development in the United States with the sale of its partnership interest to a U.S. investor. Atlantic Beach House, featuring 224 rental apartments, is in Mt. Pleasant, in the Charleston, S.C., area. The project, which was completed in March 2023 for a total investment volume of approximately $66.6 million, was developed together with local development partner Middle Street Partners.
In a parallel move, Trei and Middle Street Partners commenced construction on their second joint-venture development in the Charleston market. Atlantic Daniel Island includes 320 class A rental apartments, with an anticipated investment volume of approximately $110.6 million and scheduled completion in 2025.
“The American real estate market is currently going through a crisis,” said Pepijn Morshuis, CEO at Trei Real Estate. “But this mai
