Zucker Family Gifts $2.5 Million to College of Charleston

(Photo Provided: Anita Zucker with College of Charleston President Andrew T. Hsu)

The College of Charleston has received a $2.5 million gift from the Zucker family.

To attract talented engineering students, $2 million will go to scholarships for the newly created School of Engineering, Computing, and Mathematics; and to foster a culture of philanthropy, $500,000 will go to the Zucker Family Challenge on CofC Day over the next five years.

College officials said the scholarships, with a preference to female and underrepresented minority candidates, will help recruit, inspire and prepare diverse talent from across the country who wish to combine a rigorous engineering education with a broad-based liberal arts curriculum, giving them a unique value proposition in the workforce.

“We are very interested in this area,” said Anita Zucker, who received an honorary degree from the College of Charleston in 2010. “My late husband, Jerry Zucker, was gifted at math and science. These skills made him the incredible person he was and built our businesses. Couple that with liberal arts, including the importance of communication and writing proficiency, and it completes the person.”

In addition to engineering scholarships, Zucker partnered with the university to create a $500,000 Zucker Family Challenge for the annual CofC Day events.

College officials said that over the next five years the challenge will both motivate the college’s existing donor base and encourage new donors. 

During the 2024 CofC Day event, March 13 and 14, the Zucker Family Challenge awarded $100,000 to match the gifts of 2,000 donors.

Along with financial contributions, Zucker plays an active role at the college. She serves on the President’s Strategic Initiatives Committee, the School of Business Board of Governors and the Yaschik/Arnold Jewish Studies Program Advisory Board.

“We have been so fortunate to have the Zucker family as part of our campus community over the past 30 years,” said College of Charleston President Andrew T. Hsu. 

Hsu added, “The Zuckers’ latest gift for engineering scholarships will help the college provide a pipeline of talent to our region’s growing high-tech, manufacturing and life sciences industries. We would not be where we are today without loyal donors like the Zuckers.” 

DC BLOX Completes Myrtle Beach to Atlanta Dark Fiber Route

DC BLOX, a provider of connected data centers and fiber network solutions in the Southeast U.S., said its new dark fiber route connecting its Myrtle Beach Cable Landing Station (CLS) to Atlanta has been completed.

Officials said the unique high-capacity East-West route serves as the new backbone to the Southeast region enabling hyperscalers, global and regional communications providers, local ISPs and enterprises to connect regionally and internationally.

On the heels of DC BLOX’s announcement that it has completed its new Cable Landing Station (CLS) in Myrtle Beach, South Carolina in October 2023, this new network enables direct terrestrial connectivity from the CLS to the rapidly growing data center and communications center of Atlanta, the officials said.

The route runs from Myrtle Beach, S.C., near Charleston, S.C., through Augusta, Ga., to the major downtown connectivity centers in Atlanta including 56 Marietta Street, and on to the growing data center base in Lithia Springs, Ga.

Officials said the DC BLOX East-West route offers route diversity for data traffic between Northern Virginia and Atlanta.

Windstream has previously announced its Beach Route, which will provide connectivity from Raleigh, North Carolina to Myrtle Beach, S.C., and then to points further south.

DC BLOX is also building a dark fiber ring around Atlanta which will connect into two hyperscale-ready data center facilities in development east and west of the city.

The metro Atlanta fiber ring will also connect to the East-West route further expanding global connectivity options from the area, the officials said.

With the East-West route passing through many rural areas along its path across South Carolina and Georgia, the route serves as a network express route to Atlanta for ISPs and local cooperatives building broadband services for underserved and rural communities.

United Bankshares, Inc. to Acquire Piedmont Bancorp, Inc.

United Bankshares, Inc. (NASDAQ: UBSI), the parent company of United Bank, and Piedmont Bancorp, Inc., the parent company of The Piedmont Bank, said they have entered into a definitive merger agreement under which United will acquire Piedmont.

Officials said the merger will bring together two high-performing banking companies and strengthen United’s position in the Mid-Atlantic and Southeast, making United the 39th largest banking company in the U.S. based on market capitalization.

The transaction represents United’s 34th acquisition.

The combined organization will have more than $32 billion in assets and a network of over 240 locations across eight states, including South Carolina, and Washington, D.C.

Piedmont, headquartered in Peachtree Corners, Ga., has assets of approximately $2.1 billion and 16 locations.

Pursuant to the merger agreement, United will acquire 100 percent of the outstanding shares of Piedmont in exchange for common shares of United.

The exchange ratio will be fixed at 0.300 of United’s shares for each share of Piedmont, resulting in an aggregate transaction value of approximately $267 million.

The merger has been approved by the boards of directors of both companies.

The merger is expected to close late in the fourth quarter of 2024 or early in the first quarter of 2025, subject to the satisfaction of customary closing conditions, including approval by the shareholders of Piedmont and the receipt of required regulatory approvals which at the federal level include approval of the Federal Reserve.

Piedmont will merge into United, and The Piedmont Bank will merge into United Bank, with United and United Bank being the surviving entities.

As of March 31, 2024, United had consolidated assets of approximately $30 billion. United is the parent company of United Bank, which comprises more than 225 offices located throughout Washington, D.C., Virginia, West Virginia, Maryland, North Carolina, South Carolina, Ohio, Pennsylvania, and Georgia.

Piedmont is a $2.1 billion asset bank holding company headquartered in Peachtree Corners, Ga.

Through its subsidiary, The Piedmont Bank, Piedmont operates 16 locations in the Atlanta area and North Georgia.

Lakeland Capital Grows Multifamily Portfolio

Lakeland Capital, a Charleston, South Carolina-based private, multifamily investment company active in select East Coast markets, recently announced a landmark past 12 months with $96 million of new acquisitions.

Of that total, more than $34 million in transactions took place over the last three months alone.

With 461 total units, the transactions include multifamily and commercial properties located throughout the Charleston metro region as well as in Savannah, Ga., Richmond, Va. and Hampton, NH.

"We continue to believe there are great investment opportunities in this market. Looking to the rest of this new year, Lakeland Capital is poised to continue actively managing and growing its portfolio with an unwavering focus on creating exceptional value for investors," said Lakeland Capital Managing Partner Alexander R. Westra.

The following properties are included in the past year of Lakeland Capital's portfolio expansion:

* Savan Pointe Townhomes East and West; Savannah, Ga.

* The Retreat at Savannah; Savannah, Ga.

* King Street Portfolio; Charleston, S.C.

* Central Oaks Apartments; Summerville, S.C.

* Country Club Apartments; Summerville, S.C.

* The Parkwood; Richmond, Va.

* Riverside Apartments; Richmond, Va.

* Elaine Street Portfolio; Hampton, N.H.

With a growing investment portfolio that includes more than 700 rental apartment units, 12,000+ square feet of commercial space, and more than $150 million in transactions, Lakeland Capital, founded in 2018, seeks high-risk-adjusted returns by investing in existing multifamily assets through which it can add value with physical and operational improvement.

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