La tedesca Trei  dismette e reinveste nel residenziale  USA : il nuovo complesso a Charleston  avrà persino  una “pet  spa” 

Trei Real Estate GmbH (“Trei”), an international developer and asset manager for residential and retail real estate, just exited its second residential development in the United States with the sale of its partnership interest to a US investor: “Atlantic Beach House”, with 224 rental apartments, is located in Mt. Pleasant in the Charleston, South Carolina market. The project, which was completed in March 2023 for a total investment volume of ca. 59.3 million euros, was developed together with local development partner Middle Street Partners.

In a parallel move, Trei and Middle Street Partners commenced construction on their second joint-venture development in the Charleston market. “Atlantic Daniel Island” includes 320 Class-A rental apartments, with an anticipated investment volume of ca. 98.5 million euros, and scheduled completion of 2025.

Pepijn Morshuis, the CEO of Trei Real Estate, commented: “The American real estate market is currently going through a crisis. But this mainly affects commercial real estate. The residential segment—and here the rental housing segment above all—remains attractive for developers and investors. This explains why we managed to sell our ‘Atlantic Beach House’ multi-family development for a handsome price, earning an internal rate of return (IRR) of about 35 percent. The parallel start of construction to build the ‘Atlantic Daniel Island’ means that we are staying active in Charleston, which is an important real estate market for us.”

“Atlantic Daniel Island” will include 320 rental apartments, split among eight buildings and having a combined residential area of around 30,000 sqm. The community will offer a number of amenities, including a swimming pool, fitness centre, club room, dog park, and a pet spa. Both downtown Charleston and Sullivan’s Island Beach are within easy reach, each being 25 minutes away by car.

Aside from the aforementioned residential developments, Trei also has four additional projects currently under construction in the southeastern United States. Morshuis added: “We will complete further residential developments both this year and next, including properties in Charlotte (North Carolina), Cary (North Carolina), Nashville (Tennessee), and Jacksonville (Florida). Our decision of how long to keep these assets in our portfolio or when to sell them will depend on the way the market is trending.”

Source : Company