Private Equity Firm Northland acquires 511 Meetings in Charleston, South Carolina

Northland, a national private equity real estate firm, has purchased 511 Meeting in Charleston. The residence is Northland’s third investment in the Charleston area.

According to a press release, 511 Meeting consists of 221 studio, one- and two-bedroom apartments, 33 of which are rent-restricted. The mid-rise, podium-style building includes a fully-equipped fitness center with a separate yoga studio, bike storage and repair area, and a second-story pool deck with a fire pit and grilling stations. The modern building also features a guest lounge with a pool table, foosball and bar area, as well as 2,960 square feet of retail space occupied by Blum, a coffee and wine bar.

“Since our entry into the Charleston market in 2019 with The Standard on James Island and Wharf 7 on Daniel Island, we have actively sought additional expansion opportunities on the peninsula,” said Bruno Setteducati, Northlands’ director of investment, in the press release. “Located in the North Meeting Street neighborhood, 511 Meeting offers residents proximity to all that Charleston’s Midtown has to offer. The mixed-use property’s thoughtful integration into the historic streetscape and prime location are some of the many factors that make it a differentiator in this market and an excellent fit for Northland’s portfolio.”

Located on the peninsula in the North Meeting and Upper King neighborhoods, 511 Meeting hosts residents just one block from King Street.

Since 2019, Northland has invested more than $200 million in Charleston to assemble a portfolio of 813 Class A apartment buildings, the press release said. Northland owns and operates a diversified multi-family portfolio that includes more than 26,000 units across the United States. The company has $8 billion in assets under management.

Ross Norton can be reached at 864-720-1222.