RS Capital Partners announced the acquisition of The Palms at Edgewater, a 288-unit class A multifamily community located in the rapidly growing Charleston suburb of Summerville, S.C. The $58.5 million transaction closed in under 60 days.
Built in 2023, The Palms at Edgewater features a high-quality construction profile with modern amenities, strong in-place occupancy and day-one cash flow. The property was acquired at an attractive basis with positive leverage and long-term upside.
"We're proud of the speed and precision our team demonstrated on this deal," said Chris Urso, managing partner at URS Capital Partners. "In a volatile rate environment, we were able to secure five-year fixed agency debt at 4.77 percent — a rare win, with timing on our side. That speaks to the strength of our lending relationships and discipline in underwriting. Uncertainty creates windows of opportunity. We're not retreating — we're growing strategically, with great partners by our sid
