Alliance Residential Acquires Over 18 Acres in Charleston

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Alliance Residential Company, one of the largest multifamily developers in the nation, closed on 18.67 acres of land at 1730 Clements Ferry Road in Charleston, South Carolina, for the development MAA Point Hope.

The 336-unit apartment community is located within the master planned community of Point Hope, a 9,000-acre property within close proximity to Daniel Island that is emerging as a major new residential and commercial destination within the city of Charleston.

MAA Point Hope will be strategically positioned within the Point Hope community, just a short walk from the community’s growing mix of conveniences and essential services, including a Publix supermarket, medical and dental providers, and veterinary care.

For MAA Point Hope, Alliance Residential is partnering with MAA, a real estate investment trust (REIT) based in the Memphis, Tennessee, area that owns, operates, acquires, and develops luxury apartment communities across 16 states and Washington, D.C.

MAA Point Hope will be the company’s 12th community in the Charleston MSA.

"This area of Charleston is experiencing tremendous job growth across multiple sectors," said David Ward, executive vice president of investments at MAA. "MAA Point Hope is ideally situated to serve this expanding workforce, offering residents easy access to both employment opportunities and the recreational attractions that make this area so desirable.”

MAA Point Hope will include six three-story and two four-story residential buildings, as well as a freestanding clubhouse.

The finishes will include granite countertops, stainless steel appliance packages, screened-in balconies, wood-style flooring, and a washer and dryer in every apartment.

Community amenities will include a resort-style pool, pet park/dog wash, outdoor kitchen.

Headquartered in Scottsdale, Arizona, with 19 regional offices, Alliance is focused on the development, construction, and acquisition of residential communities across 16 states and 39 metropolitan markets.

MAA is a self-administered real estate investment trust (REIT) and member of the S&P 500. MAA owns or has ownership interest in apartment communities primarily throughout the Southeast, Southwest and Mid-Atlantic regions of the U.S.

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