04/01/2004 Focus Announces Acquisition of Point West in Charleston Focus Development has acquired a 120-unit apartment complex known as Point West, located in Charleston, South Carolina. The apartment community was acquired from Aimco for a total purchase price of $3.9 Million Dollars. Regions Bank provided a $5.792 Million Dollar loan for the acquisition and upgrade of the Property. Focus has immediate plans to convert the Property to condominiums and rename it Carolina Cove Condominiums. The renovation plan calls for the expenditure of approximately $1.8 Million Dollars to reposition the Property for a successful condominium conversion. The Property offers unique townhouse floor plans, with two and three bedroom layouts.
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