www.CharlestonCommercialMarketForecast.com

Multifamily / LandAnalysis and Outlook 2013

Presented By:Dan Doyle

Charleston MSA Historical and Projected Population

2000 2010 2015 2020 -

100,000

200,000

300,000

400,000

500,000

600,000

700,000

800,000

142,651 177,843 187,800

309,969 350,209 360,600

96,413 136,555 152,000

549,033

664,607 700,400

Berkeley Charleston Dorchester Tri-County

Population

* Projections were provided by the Bureau of Labor Statistics. The 2012 Charleston MSA population is 697,439.

Charleston MSA Vs. National Historical and Projected Unemployment Percentage

2010 2011 2012 2013 20140.00%

2.00%

4.00%

6.00%

8.00%

10.00%

12.00%

9.29%8.45%

7.40%

6.13% 5.93%

9.60%

8.90%

8.10%

7.20%6.60%

Local Unemployment

National Unemployment

Unemployment %

Real Data: Charleston Area Submarket Multifamily Performance Recap

Central Goose Creek James Island Mt. Pleasant North Charleston

Summerville West Ashley Tri County Area

$0

$200

$400

$600

$800

$1,000

$1,200

$1,400

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%

7.0%

8.0%

9.0%

10.0%

$870 $853

$1,079

$1,245

$742$847 $879 $903

6.0%

4.2%

2.8%

9.1%

4.6%

6.9%

2.7%

5.2%Rental Rate

Vacancy Rate

Average Rent ($) Vacancy Rate (%)

Charleston Multifamily Construction Pipeline Breakdown

Downtown Mt. Pleasant / Daniel Island

James Island Johns Island West Ashley North Charleston

Hanahan Summerville Total -

1,000

2,000

3,000

4,000

5,000

6,000

7,000

8,000

9,000

10,000

656

3,113

578 528

1,717 1,391

331 784

9,098

Pipeline Unit Count

Riviera at Seaside– Mt. Pleasant, SC

Flats at Mixson– North Charleston, SC

The Parks at Nexton– Summerville, SC

Multifamily / Land

• Land

• Opportunities Still Available

• Current & Future Risks- Supply- Rising Construction Costs

On the Horizon