Integral Urban Investments has acquired 4.3 acres of property in Charleston, South Carolina’s “Midtown” district through its Integral Urban Fund I.
The property will be developed as a mixed-use community by Integral along with Regent Partners, Raleigh, North Carolina-based private equity real estate firm Cherokee Investment Partners and Charleston-based CC&T Real Estate Services.
“All four of the partners involved in this project have extensive experience in and a commitment to urban projects that help revitalize a city’s core,” Reid Freeman, president of Regent Partners, said in a statement. “Ultimately our intent is to revitalize Midtown for the benefit of current residents, as well as to create opportunity and momentum for new growth.”
Located in the “Midtown” district of Charleston, the property is close to the city’s historic district and adjacent to King Street, which offers upscale dining and retail options.
Established in 1983, Regent has acquired and developed more than 10 million square feet of property valued at more than $1 billion (€700 million). Its portfolio includes hotel, residential, office, retail, mixed-use and land holdings.
Integral Urban Investments, the investment management division of The Integral Group, invests in mixed-use developments in urban areas across the US through its Integral Urban Fund I.
Cherokee Investment Partners has acquired more than 520 properties in North America and Western Europe totaling $1.8 billion. The firm focuses on acquiring and redeveloping environmentally impaired industrial, commercial, office, retail and mixed-use properties.
CC&T, based in Charleston, offers commercial and residential brokerage services in addition to property management and development.