CHARLOTTE, NC—Locally-based Multi Housing Advisors reports it has brokered three multifamily sales in the state of South Carolina totaling more than $39 million.
Marc Robinson and Jordan McCarley of MHA’s Charlotte, NC office represented the sellers of the three properties.
Covenant Capital acquired the 246-unit Century Forest, located in Greenville, SC, from Centennial Holding Company, LLC for $19.3 million. Century Forest, constructed in 1985, includes a swimming pool with a sundeck, a fitness center, tennis courts, a car-care facility, and picnic and grilling areas.
Another recent deal involved PRG Real Estate‘s sale of a two-property portfolio in Spartanburg, SC, comprised of The Corners Apartments and Magnolia Townhomes, to Graycliff Capital for $10 million. Both assets were constructed in 1974. The Corners Apartments features 176 units and Magnolia Townhomes includes 98 units.
The third transaction brokered by MHA was Hudson Capital‘s purchase of the 120-unit Fox Run apartment complex, located in Camden, SC, for $9.79 million. Pulliam Investments sold the property, constructed in 2002. Amenities at the property include a fitness center, laundry facility and swimming pool.
“The offerings received tremendous investor interest and illustrate that investor demand for multifamily assets in the Southeast is very strong,” MHA’s Robinson says.
McCarley adds, “Overall, market fundamentals remain solid and financing options for multifamily assets continue to improve, so we anticipate tremendous investment activity in multifamily well into 2015.”