Quarterra Opens Cormac Apartments

Mid-Rise Mixed-Use Community Offers 303 Modern Homes in Charleston's Growing Upper Peninsula District  

CHARLESTON, S.C., June 8, 2023 /PRNewswire/ -- Quarterra Multifamily, a subsidiary of Lennar Corporation and a vertically integrated multifamily apartment builder, developer and asset manager, today announced the opening of Cormac Apartments. Cormac is a mixed-use apartment community on Charleston's upper peninsula and represents the first joint venture between QMF and Cresset Partners and was capitalized in their Cresset Diversified Qualified Opportunity Zone (QOZ) Fund I.

Cormac – featuring 303 apartment homes and 13,068 square feet of retail space, as well as a pair of public ground level courtyards – offers an unprecedented level of modern living to the rapidly growing North Morrison "NoMo" district. The mid-rise community's unique and enviable location puts residents within easy reach of employment centers and dining options, as well as entertainment and sporting venues. It also provides prime access to Downtown Charleston, Mt. Pleasant, Park Circle in North Charleston, and West Ashley. 

"Cormac represents a significant step in the evolution of Charleston's Upper Peninsula district, bringing an element of sophistication through next-level living and retail opportunities," said Beach Corontzes, development manager for Quarterra. "The Upper Peninsula has become a destination dining and nightlife locale, not to mention a coveted neighborhood to call home. We're excited to welcome residents and help to accelerate the surging momentum in the neighborhood."

Situated at 1310 Meeting Street Road, Cormac is central to regional employment, shopping, dining and entertainment options. The retail shops at King Street, East Bay Street, Historic Charleston City Market, West Edge and Mt. Pleasant Town Center are all within a short drive. Local hot spots such as Butcher & Bee, Edmund's Oast Brewing Company, Home Team BBQ, Revelry Brewing and Brewlab Charleston are just blocks away. Cormac residents also find themselves in close proximity to several local attractions such as The Refinery, Pacific Box & Crate, and The Wonderer.

Cormac's location on Meeting Street Road (U.S. Highway 52), is less than a quarter mile from Interstate 26, and approximately 1 mile from Ravenel Bridge – which leads to Mt. Pleasant – creating exceptional connectivity to employment centers in Downtown, Mt. Pleasant and North Charleston. Residents have access to a controlled-access three-story above-grade parking facility, as well as on-street parking and 19 electric vehicle charging stations. 

The community features studio, one- and two-bedroom apartment homes, highlighted by Nest smart thermostats, keyless entry and stainless-steel Whirlpool appliances. Custom cabinetry, quartz or granite countertops, hardwood-inspired flooring and pendant lighting is featured in two distinct design schemes. Homes are equipped with tile backsplashes and under-cabinet lighting in kitchens, and baths come with oversized tubs or walk-in showers with full tile surrounds.

Residents also enjoy a full amenity lineup which includes an eighth-floor rooftop terrace complete with butler kitchen and spectacular views of Downtown Charleston and the Ravenel Bridge. The fourth-floor features three elevated courtyards – one of which is highlighted by a resort-style pool and clubhouse. The clubhouse is home to multiple coworking spaces. A state-of-the-art fitness center, a bike storage room, package lockers, rentable storage spaces are at residents' disposal, as well.

About Quarterra Multifamily
Quarterra Group, Inc., a wholly-owned subsidiary of Lennar Corporation (NYSE: LEN and LEN.B), is a multi-strategy, real estate focused, alternative asset management company comprised of two rapidly growing verticals: Multifamily and Single-Family Rental. Launched in 2011, Quarterra Multifamily, previously known as LMC, is among the nation's most active developers, builders, and managers and has been on the National Multi-Housing Council's (NMHC) annual Top 50 list for eight consecutive years.

Quarterra creates extraordinary communities where people can live remarkably.
www.Quarterra.com 

About Cresset Real Estate Partners
Cresset Partners is a private investment firm focused on providing its investors with direct access to investment opportunities in private companies, real estate, private credit, private equity secondaries, and venture capital. Cresset focuses on building outstanding, lasting partnerships by investing long-term capital, resources, and expertise to create sustainable value. Cresset Partners was founded in 2018 and has more than $3 billion in commitments across real estate, private equity, private credit, and venture capital. Learn more at https://cressetpartners.com.

Cresset refers to Cresset Capital Management and all of its subsidiaries and affiliates. Cresset Asset Management, LLC provides investment advisory, family office, and other services to individuals, families, and institutional clients. Cresset Partners, LLC provides investment advisory services strictly to investment vehicles investing in private equity, real estate and other investment opportunities. Cresset Asset Management, LLC, and Cresset Partners, LLC are SEC registered investment advisors. 

Media Contact                 
Marlena DeFalco
LinnellTaylor Marketing                                 
303-682-3943                                     
marlena@linnelltaylor.com 

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SOURCE Quarterra