U.S. Continental Realty acquires SC apartments community for $69.3 mln

A joint venture between U.S. investment firms The Carlyle Group and Blaze Partners has divested The Bluestone Apartments in Bluffton, South Carolina (SC), for $69.3 million.

Constructed in 2004 and 2007, The Bluestone features one-, two- and three-bedroom units with up to 1,510 square feet of space, 9-foot recessed ceilings, balconies, walk-in closets and on-site garages and storage.

The JV sold the 360-unit community, located at 4921 Bluffton Parkway in the town northeast of Savannah, to U.S. real estate investment and management firm Continental Realty Corp.

Continental Realty acquired the property, which has community amenities including a clubhouse with fitness center, two swimming pools, a fishing pier and dog park, on behalf of Continental Realty Fund V.