Jul 21, 2021 The Montford Group. and Opterra Capital Acquire 170 Meeting Street Office Building Located in The Historic Downtown Charleston
CHARLESTON, SC (July 21, 2021) – The Montford Group. and Opterra Capital acquire 170 Meeting Street, a fully-leased premium office building consisting of 30,000 square feet located in the heart of downtown Charleston.
The building is set over five stories that offer modish decor with floor-to-ceiling windows overlooking downtown for an inspiring working environment. The office is fully leased with a strong roster of tenants including Regions Bank and Regus serviced office space.
“We are very excited to add this office building in the banking corridor of Historic Charleston to our real estate portfolio. It has been an absolute pleasure working with Marc Knight and his team at First Reliance Bank to secure financing and Joe Keenan and Trad Dyches of Palmetto Commercial, who brokered the deal” said Sunju Patel, Founder & CEO of The Montford Group.
“I have had the distinct pleasure of knowing Sunju Patel for quite a few years now,” said Rick Saunders, CEO of First Reliance Bank. “True to his character, when an investment property came up for sale, Sunju thought of the banking partnership he and I have formed.”
“Charleston is a great market to do business and we are proud to grow our real estate portfolio in the office sector here” said Glenn Alba, Founder & CEO of Opterra Capital.
Currently, The Montford Group. and Opterra Capital plan to keep the office as is, having a goal to maintain the business banking district in downtown Charleston.
# # #
About The Montford Group.
The Montford Group. is a real estate investment and development company with more than 50 years combined experience in real estate investments, acquisitions, and dispositions along with horizontal and vertical development. From the creative minds of seasoned entrepreneur duo Sunju Patel and Jessica Reid, The Montford Group. set off to curate an unrivaled collection of unique properties and remarkable experiences for people who believe that home and hospitality shouldn’t be rare finds, but the common ground that unites us. The company has developed two hotels in Charleston (totaling 229 keys) as well as approximately 190,000 SF of residential properties, 275,000 SF of retail space, 500,000 SF of industrial space, 225,000 SF of office space and 90,000 SF of medical office and hospital space. Today, their portfolio consists of over 40,000 SF of office and retail along with over 600 hotel keys of existing and ground-up development that include Moxy by Marriott and Thompson by Hyatt. www.montfordgroup.com
About Opterra Capital, LLC
Opterra Capital is a Boca Raton, FL based real estate investment sponsor and operating partner, capital markets advisor, and asset manager with significant experience in all sectors of commercial real estate. Founded by Glenn Alba, a former Managing Director at Blackstone for 20 years, Opterra Capital consists of four industry-professional principals with more than 80 years of experience in hotel ownership, asset management and development. Opterra Capital seeks to leverage this expertise towards value-add acquisition and proactive investment management to deliver attractive, risk-adjusted returns. www.opterracapital.com
About First Reliance Bank
Founded in 1999, First Reliance Bancshares, Inc., is based in Florence, South Carolina and has assets of approx. $830 million. The company employs more than 186 professionals and has locations throughout South Carolina and central North Carolina. First Reliance has redefined community baking with a commitment to making customers lives better. First Reliance offers a full range of personalized community banking products and services for individuals, small business, corporations and highly competitive mortgage programs. www.firstreliance.com
For More Information:
Founder & CEO, The Montford Group.
Founder & CEO and President, Opterra Capital, LLC