Trinity Industries' TSCP Launches $61M Multifamily Development Project in Charleston
- Trinity Street Capital Partners announces a $61 million construction loan for a multifamily project in Charleston, SC.
- The development will feature 250 upscale units and a range of modern amenities for residents.
- TSCP is expanding its real estate finance programs across the U.S., focusing on high-quality multifamily developments.
### Trinity Street Capital Partners Expands Lending Footprint with New Multifamily Development in Charleston
Trinity Street Capital Partners (TSCP) solidifies its presence in the real estate finance sector by announcing a $61 million non-recourse construction loan for a multifamily property in Charleston, South Carolina. This loan, characterized by a two-year term and the option for two six-month extensions, demonstrates an impressive 86% loan-to-cost ratio. The development is poised to enhance Charleston's housing landscape, comprising 250 upscale market-rate units spread over eight four-story buildings on a sprawling 10-acre site. The project includes a mix of 156 one-bedroom and studio units, 70 two-bedroom units, and 10 three-bedroom units, catering to a diverse demographic seeking quality living spaces.
This multifamily project is not only significant in terms of its scale but also in the range of amenities it will offer. Residents can expect a variety of features designed to enhance their living experience, including leasing offices, a club room equipped with a full kitchen, a fitness center, a yoga room, a business center, a game room, and a swimming pool with sundeck and cabanas. Such amenities are increasingly sought after in competitive housing markets, reflecting TSCP’s commitment to supporting developments that cater to modern lifestyle needs. By focusing on high-quality residential offerings, TSCP aims to contribute positively to the local community while capitalizing on the growing demand for multifamily housing.
The backdrop of this project is a robust local economy in Charleston, bolstered by sectors such as tourism, logistics, aerospace, and a rapidly growing technology scene often referred to as "Silicon Harbor." The Port of Charleston plays a pivotal role in stimulating regional trade and economic activity, further enhanced by major employers like Boeing. This economic vitality not only strengthens the case for TSCP's investment but also underscores the importance of developing high-quality living spaces in a city renowned for its rich cultural heritage, historic architecture, and vibrant arts scene.
In addition to this Charleston project, TSCP continues to expand its construction lending programs across the United States, specializing in non-recourse, high-leverage senior and subordinate commercial mortgages, as well as real estate private equity. With investment opportunities starting at $10 million, TSCP caters to various property types nationwide, positioning itself as a significant player in the real estate finance landscape.
For more information about TSCP and its offerings, visit their website at www.trinitystreetcp.com. The company's strategic approach to financing multifamily developments reflects both a commitment to quality and an understanding of the dynamic real estate market.