All Properties
Under Development Mixed-Use

Harborline Commons

Charleston, SC

Asset Type Mixed-Use
Location Charleston, SC
Year Acquired 2023
Square Footage 685,000 SF
Occupancy Rate Pre-leasing
Current Value $210M (projected)
Property Overview

A 12-acre mixed-use development combining street-level retail, creative office, and 480 residential units around a central public commons.

Investment Thesis

Entitled land basis secured at a significant discount to comparable transactions, in a district benefiting from port-driven employment growth.

Strategy

Phased ground-up development with pre-leasing milestones gating each vertical start to manage exposure.

Market Overview

Charleston’s peninsula submarket shows durable retail rents and the strongest office absorption in the Carolinas coastal region.

Value Creation Plan

Phase I retail 68% pre-leased; residential vertical construction commenced Q1 2025 with delivery targeted for late 2026.

Financial Highlights
$54M (land) Acquisition Value
$210M (projected) Current Valuation
NOI
Cap Rate
21.4% (projected) IRR
2.1x (projected) Equity Multiple
Investment Timeline
  1. Q2 2023

    Land Acquisition

    Closed on fully entitled 12-acre site.

  2. Q1 2025

    Vertical Construction

    Commenced Phase I residential and retail construction.

  3. Q4 2026

    Phase I Delivery

    Targeted delivery of 480 units and 85,000 SF of retail.