CHARLESTON, S.C.—The Edgewater Plantationmultifamily complex has traded for an impressive$42.68 million. The Praedium Group acquired the360-unit multifamily asset, which is located inMount Pleasant.

Constructed in 2001, Edgewater Plantation boasts an average unitsize of 1,032 square feet. The complex offers amenities like a3,500 square-foot clubhouse, which will be expanded and redesignedas part of an overall amenity upgrade.

“We plan to reposition the asset to the market through upgradesto the unit interiors, exteriors, and the clubhouse, which willallow the property to compete with competitive class A assets inthe market,” Mark Lippmann, managing director ofThe Praedium Group, tells GlobeSt.com. “Granite countertops, newappliances, and new lighting and fixtures are some of the unitupgrades included in the capital improvement plan.”