Lane Company, a multifamily real estate company, has acquired Broadway Station Apartments in Myrtle Beach, S.C.

The value of the transaction was $27.2 million.

The 264-unit apartment community will be converted into a condominium. The property, located east of Highway 17 on 38th Avenue, is within one-half mile of both the beach and Broadway at the Beach, a popular shopping, entertainment and dining destination.

The community includes one-, two- and three-bedroom residences. Current amenities include a pool, clubhouse and fitness center. Condo sales are expected to begin late this year and the first residents are expected to move in early next year.

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