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JAE Property Group Pays $3M for Cedar Key Apts

The TREO Group Sells 48-Unit Multifamily Community in Summerville
February 7, 2018
JAE Property Group, a real estate investment company based out of Long Island, NY, acquired the 48-unit apartment complex located at 246 Pidgeon Bay Road Summerville, SC from The TREO Group for $3 million, or about $63,000 per unit.

At the time of the sale, the asset was fully occupied.

Built in 2003, Cedar Key Apartments totals 61, 392 square feet and features a mix of two- and three-bedroom units. Community amenities include a clubhouse, laundry facilities, on-site maintenance, a playground and additional storage space.

Blake Coffey and Mark Boyce of Berkadia Real Estate Advisors represented the seller.

Please see CoStar COMPS #4108659 for more information on this transaction.
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