Newmark Arranges Sale and Freddie Mac Financing of 276-Unit Waverly Place Multifamily Community in North Charleston

Newmark has completed the sale and financing of Waverly Place, a 276-unit multifamily community located at 1900 Waverly Place Lane in North Charleston, South Carolina, the firm announced June 10, 2026. The transaction transfers the garden-style apartment and townhome property from a joint venture between KETTLER and The Stillman Group of Scarsdale, New York, to the Charleston Workforce Housing Fund — an impact fund led by Ascent Housing in partnership with Housing Collaborative — as part of a citywide initiative to expand affordable and workforce housing options across the region.

Acquisition financing was secured through Freddie Mac on behalf of the buyer. Financial terms of the transaction were not disclosed.

Transaction Details and Advisory Team

Newmark Executive Managing Director Alex Okulski, Director Gordon Huey, and Vice Chairmen Dean Smith and Sean Wood represented the seller in the transaction. On the financing side, Executive Managing Directors Josh Davis and Chris Caison, Directors Patrick Breed, Michael Manfro, CJ Webb and Patrick Szyperski, and Vice President Andrew Kraus arranged the Freddie Mac acquisition loan on behalf of the buyer.

"Waverly Place represented a unique opportunity to preserve and expand workforce housing within one of the Charleston region's fastest-growing employment corridors," said Okulski. "The collaboration between the buyer group and local stakeholders reflects the increasing importance of public-private partnerships in addressing housing affordability challenges while maintaining long-term community impact."

Davis added that the financing structure was designed specifically to support the borrower's affordability mission. "This transaction helps position the property for long-term affordability while minimizing resident displacement and supporting mixed-income housing within a rapidly growing market," he said.

Property Profile

Waverly Place is a garden-style apartment and townhome community situated in North Charleston's Archdale neighborhood, offering a mix of one-, two- and three-bedroom floor plans with renovated interiors. Community amenities include a clubhouse, fitness center, resort-style swimming pool, outdoor grilling areas, a playground, a bark park, package lockers and tennis/racquetball courts.

The property's location places it within one of the Charleston metro's primary employment growth corridors, with direct access to I-26 and I-526, Charleston International Airport, and major regional employers including Joint Base Charleston, Boeing, Bosch and Mercedes-Benz Vans.

Seller and Buyer Background

KETTLER, a vertically integrated multifamily investment, development and property management firm headquartered in McLean, Virginia, has developed more than 25,000 multifamily units and manages approximately 30,000 apartments across the Northeast, Mid-Atlantic, Southeast and Southwest. The Stillman Group, based in Scarsdale, New York, was the joint venture partner in the asset.

The Charleston Workforce Housing Fund, led by Ascent Housing in partnership with Housing Collaborative, is described as an impact fund focused on expanding affordable and workforce housing options across the Charleston region. Specific fund terms, affordability covenants or compliance mechanisms were not disclosed.

About Newmark

Newmark, which generated revenues of more than $3.4 billion for the twelve months ended March 31, 2026, operates from over 185 offices with more than 9,600 professionals across four continents. The firm advised on both the investment sale and the debt placement in the transaction.

Sources

Newmark Press Release: Newmark Arranges Sale and Financing of Waverly Place Multifamily Community in North Charleston (June 10, 2026)