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Columbia Business Monthly

The Business Narrative: New SC Leader

Jul 19, 2024 08:57AM ● By Donna Walker

(Photo courtesy of CBRE)

CBRE Names Audrey Frey As South Carolina Market Leader

CBRE said Audrey Frey has been named senior managing director and market leader for its South Carolina business.

 

In this role, Frey will oversee business operations and drive the market’s growth strategy for all Advisory Service lines of business, including leasing, sales, debt and structured finance, valuation, and property management for its Charleston, Columbia, and Greenville offices. She will be based out of Greenville.

 

“Throughout her tenure at CBRE, Audrey has gained a solid reputation as an energetic leader and strategic partner to our professionals and teams across all business lines, helping our professionals grow in their careers and win more business,” said Josh Bank, executive managing director for CBRE.

 

Bank added, “She is a dynamic leader who works professionally and personally to better our community, and we couldn’t be more excited to have her lead our South Carolina business.” 

 

Frey joined CBRE in 2015 as a senior director in sales management and, within two years, was promoted to managing director/occupier leader for the Atlanta market.

 

In that role, she was responsible for managing day-to-day sales operations and business development strategies for occupier professionals across all asset types.

 

Most recently, she served as the East Region Broker Operating Platform leader, where she successfully developed and scaled several platform resources to help brokers operate more efficiently and win more business.

 

Earlier in her career, Frey held various leadership roles during a 15-year stint at Northwestern Mutual and was the president/owner of Greenlight Communications.  

 

“I’m excited for this new opportunity to work with a dynamic team of CBRE professionals in South Carolina,” Frey said. “I look forward to helping our professionals solve complex commercial real estate challenges for our clients and drive additional growth within the South Carolina region.”

 

CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, Texas, is the world’s largest commercial real estate services and investment firm (based on 2023 revenue).

 

The company has more than 130,000 employees (including Turner & Townsend employees) serving clients in more than 100 countries.

Blackbaud Announces Reauthorized, Expanded and Replenished $800 Million Stock Repurchase Program

Charleston, South Carolina-based Blackbaud (NASDAQ: BLKB) announced July 18, 2024, that its board of directors has reauthorized, expanded and replenished the company's existing stock repurchase program, raising the total capacity from $500 million to $800 million available for repurchases of the company's common stock.

 

"We believe there is no better use of capital at this time than repurchasing shares at this valuation to improve shareholder value," said Mike Gianoni, president, CEO and vice chairman of the board of directors, Blackbaud.

 

Gianoni added, "This new authorization, empowered by our strong and improving profitability and cash flows and coupled with available capacity under our new debt facility, demonstrates our commitment to this strategy which will continue for the foreseeable future."

 

Under the program, the company may repurchase shares of its common stock in the open market, through private transactions, or otherwise.

 

During the first half of 2024, prior to the replenishment on July 16, 2024, the company repurchased 2,954,211 shares of its stock for $262.6 million under the stock repurchase program, representing approximately 5.5 percent of the company's common stock outstanding as of Dec. 31, 2023.

 

As of July 16, 2024, the remaining amount available to purchase stock under the company's repurchase program was $800 million.

 

Serving the nonprofit and education sectors, companies committed to social responsibility and individual change makers, Blackbaud's software is built to accelerate impact in fundraising, nonprofit financial management, digital giving, grantmaking, corporate social responsibility and education management. 

Material Capital Partners Closes Financing, Breaks Ground on 82 Townhome Build-For-Rent Community in Bluffton, SC

Material Capital Partners, a real estate development and investment management firm based in Charleston, South Carolina, said it has closed $30 million in project financing and started construction on Indigo Cove, an 82 townhome rental community in Bluffton, South Carolina.

 

Indigo Cove is located on 24 acres near the intersection of Buck Island Road and Bluffton Parkway, two miles from Old Town Bluffton.

 

The new development will consist of 82 3-bedroom townhomes designed to complement the coastal town of Bluffton.

 

Officials said residents will enjoy finishes including quartz countertops, stainless steel appliances, built-in home offices nooks, upgraded hard surface flooring and walk-in showers in the primary bedroom suites.

 

The community also will feature a host of amenities including a premium bark park, wooded nature trails, pocket parks and a clubhouse with co-working space and fitness center.

 

Indigo Cove will be property managed by Greystar with pre-leasing scheduled to begin in spring 2025. For additional information regarding pre-leasing, go to the project website www.indigocove.mcpcommunity.com.

 

Project financing was provided by Bluerock, Stanton Road Capital and MCP's institutional construction lender.

 

Construction will be handled by MCP's dedicated builder partner Winchester Commercial Group.

 

Material Capital Partners LLC is firm focused on single-family rental home communities throughout the Southeast.

National Hammock Day at Pawleys Island

By Joshua Ford

 

This weekend is a big one for The Grand Strand. Monday July 22 is National Hammock Day, but Pawleys Island is celebrating early on Saturday with its Hammock Day Festival from 10 a.m. to 5 p.m. at The Hammock Shops Village.

 

“The Hammock Coast, with its pristine beaches and tranquil environment, epitomizes relaxation and Southern charm,” said Trevor Swenson, owner of Coastal Media Solutions, which manages marketing for The Hammock Shops Village.

 

Swenson added, “The area's reputation for relaxation is not just a tagline, it is a lived experience, drawing visitors who yearn for a respite from the hustle and bustle of everyday life.”

 

This is the sixth year of the event, but the first in which The Georgetown County Chamber of Commerce and tourism leaders are coming together for one big event.

 

“We have all celebrated Hammock Day every year in our own unique way to give back to the community, provide entertainment, and welcome visitors and educate them on what our iconic coastline has to offer,” Todd Nifong, vice president of sales and marketing for Pawleys Island Hammocks, said in a press release.

 

Nifong added, “It was only natural for us to consolidate this into one main event for everyone to come together and enjoy and help us to continue to grow into a can’t-miss multi-day festival to celebrate National Hammock Day.”

 

The Hammock Shops Village contains 21 shops and two restaurants.

 

Attendees can expect live music, food trucks, activities for kids, a chance to win a free hammock and more. All of the shops and restaurants will be open during the festival.

 

For more information, go to https://hammockcoastsc.com/hammock-day-festival-set-for-saturday-july-20-at-the-hammock-shops-village.

 

According to the National Today website, National Hammock Day is celebrated every year on July 22 to commemorate the universal symbol for relaxation.

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