Duplex sale to support Children’s Hospital

By Ashley Barker
abarker@scbiznews.com
Published Feb. 24, 2014

The Medical University of South Carolina Foundation recently sold a few North Charleston investment properties.

The Medical University of South Carolina Foundation was recently granted three duplex apartments in North Charleston. The properties were sold for $279,000. (Photo provided by Lincoln Harris LLC)
The Medical University of South Carolina Foundation was recently granted three duplex apartments in North Charleston. The properties were sold for $279,000.
(Photo provided by Lincoln Harris LLC)
 
Three duplex apartments on West Montague Avenue were gifted to support the MUSC Children’s Hospital, according to Thomas Anderson, the foundation’s CEO. They were sold for a total of $279,000 by corporate real estate company Lincoln Harris LLC, an affiliate of Lincoln Property Co..

The duplexes — located at 4646, 4650 and 4654 West Montague Ave. — totaled 6,554 rentable square feet and were fully leased at the time of the sale.

Mike Ferrer, who facilitated the transaction for Lincoln Harris, said offers were made less than two weeks after the properties were posted, and it took less than 90 days to complete.  He said the apartments were donated anonymously to the foundation by a “high-net-worth individual.”

Ferrer said the properties were maintained well, passed all inspections and did not need any maintenance work prior to being sold.

The MUSC Foundation was “chartered in 1966 as a charitable, education foundation to support the education, research, patient care and other programs at the medical university,” according to its website.

Reach Ashley Barker at 843-849-3144 or @AshleyNBarker.

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