Madison Capital Group Closes $16MM Preferred Equity Raise for Bees Ferry Road Townhome Community in Charleston, S.C.

Charleston, S.C. (Oct. 15, 2024) — Madison Capital Group has successfully closed Madison Bees Ferry Road Pref, LLC, a $16 million preferred equity raise to fund a premier build-for-rent townhome community project located on Bees Ferry Road, adjacent to the sought-after West Ashley residential area.

The project will feature 169 luxury rental townhomes designed to meet the growing demand for quality housing in a region experiencing unprecedented growth.

"This investment represents an exceptional opportunity for our investors to engage with a high-demand, high-barriers-to-entry market," said Ryan Hanks , CEO of Madison Capital Group. "Our team's extensive experience and local expertise uniquely position us to capitalize on the continued growth in this dynamic region."

The development promises a suite of upscale amenities that will enhance the living experience for residents, including market-leading unit finishes with quartz countertops, a clubhouse and state-of-the-art fitness center, an outdoor lounge and a resort-style pool complete with a pool deck, grilling stations, and a cozy fire pit. BenCo Construction will build the project, ensuring a high standard of quality and craftsmanship.

Charleston is experiencing an influx of residents, with an average of 38 new residents moving to the area each day. The metro area is projected to create 35,000 new jobs over the next five years, further solidifying its status as a dynamic economic hub. Additionally, with 7.8 million visitors annually, Charleston has earned its reputation as the No. 1 tourist town in the U.S., resulting in a significant economic impact of over $8 billion.

"We deeply appreciate the unique character of Charleston and are committed to delivering a project that aligns with its purposeful growth trajectory," Hanks said.

About Madison Capital Group

Madison Capital Group, headquartered in Charlotte, N.C., specializes in real estate investments with a focus on the self-storage and multifamily sectors. The company is the parent entity of Go Store It Self-Storage, a non-traded direct investment sponsor emphasizing self-storage, and Madison Communities, a vertically integrated real estate development and investment firm dedicated to crafting high-quality, suburban, garden-style apartment communities throughout the Southeast. For more information, visit madisoncapgroup.com.