Charleston, SC
CBRE Arranges Sale of Forest at Fenwick Multifamily Community in Charleston, South Carolina
June 8, 2026
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CBRE announced the sale of Forest at Fenwick, an 80-unit multifamily community located in Johns Island, South Carolina, to an affiliate of Blue Hour Housing for $18.75 million.
CBRE’s Tai Cohen, John Phoenix, Tyler Fish and Conor Strickland represented both the buyer and seller, a partnership between Rowin Capital and Penny Lane Investments, in the transaction. Debt and structured finance services were provided by CBRE’s Cabell Thomas.
“Forest at Fenwick was attractive to investors due to its location on Johns Island and the continued population growth across the Charleston market,” said Tyler Fish, Vice President at CBRE. “The asset offered a compelling opportunity to acquire a well-performing community with strong fundamentals in a high barrier to entry submarket.”
Located at 15 Stardust Way on Johns Island, just outside of downtown Charleston, Forest at Fenwick is an 80-unit multifamily community featuring two-bedroom apartment homes with spacious layouts and thoughtfully designed interiors. Community amenities include a pool, fitness center, grilling area and outdoor gathering spaces, and the property is situated within walking distance of local shopping, dining and entertainment options.
“Our team arranged an ultra-favorable bank execution with highly attractive bridge terms for Forest at Fenwick,” added Cabell Thomas, Vice President at CBRE. “This transaction reflects the intensified competition we’re seeing in the middle-market lending space, with strong interest from banks and debt funds helping enhance the deal economics and deliver an optimal solution for the borrower.”
“Forest at Fenwick benefited from the positive trajectory of the Johns Island submarket during our hold period,” said Joseph Scherban and Daniel Scherban, managing principals of the seller. “We are grateful to the CBRE team for their professionalism throughout the entire transaction process.”
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE: CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm and a premier provider of critical infrastructure services. The company has more than 155,000 employees serving clients in more than 100 countries. CBRE serves clients through four business segments: Advisory (leasing, sales, debt origination, mortgage servicing, valuations); Building Operations & Experience (facilities management, property management, flex space & experience, critical infrastructure); Project Management (program management, project management, cost consulting); Real Estate Investments (investment management, development). Please visit our website at www.cbre.com.
Blue Hour Housing is a real estate investment firm focused on the acquisition of workforce and employee housing assets across supply-constrained markets. The firm targets hospitality and residential properties where it can create stable, long-term housing for working communities. With properties in Colorado, Vermont, Maine, Connecticut, and South Carolina, Blue Hour partners directly with employers so they can provide quality housing to their employees without the operational burden of managing it themselves. From acquisition and renovation to rezoning and day-to-day property management, Blue Hour provides employers an end-to-end housing solution.