$62.4 million in acquisition financing for a multifamily asset in South Carolina was secured by an affiliate of Raith Capital Partners, as reported by Commercial Observer for the first time. J.P. Morgan Real Estate Income Trust (JPMREIT) provided the loan for the sponsorship's Satori West Ashley, a 297-unit multifamily property in Johns Island, near Charleston. This marks JPMREIT's second commercial real estate debt investment, following a $16.8 million mezzanine loan on Overall Creek Apartments outside Nashville in September 2022.

    Doug Schwartz, co-president of JPMREIT, expressed high conviction in the multifamily sector, particularly in markets with expected population growth and a decreasing construction pipeline. The purchase price and seller information were not immediately available.

    Satori West Ashley, built in 2003, offers amenities such as a clubhouse, saltwater pool, grill areas, a fitness center, and a movie theater. The property is conveniently located across the street from a Publix supermarket, approximately 11 miles west of Downtown Charleston on Johns Island at 211 Satori Way.

    Raith Capital Partners did not respond to a request for comment. Andrew Coen can be reached at [email protected] for further inquiries.