Thursday, October 9, 2014

Passco Companies Acquires 244-Unit Multifamily Community in South Carolina for $30.9 Million

 GREENVILLE, SC – Passco Companies, LLC has acquired the 244-unit Class A multifamily community Vinings at Laurel Creek for $30.9 million.  Vinings at Laurel Creek is located at 3434 Laurens Road in the City of Greenville, S.C.

The newly constructed community, which was completed in 2013, is located in the highly desirable Greenville-Spartanburg-Anderson region of South Carolina known as “Upstate,” according to Gary Goodman, Senior Vice President Acquisitions of  Passco Companies.

Vinings at Laurel Creek, Greenville, SC

“The Upstate region of South Carolina has demonstrated tremendous growth over the past twenty years,” explained Goodman. “Vinings at Laurel Creek is located in Greenville’s most active employment submarket, ensuring ample renter demand from the growing population of area employees.”

Gary Goodman
According to Goodman, Vinings at Laurel Creek is in close proximity to downtown Greenville, and is also adjacent to two of Greenville’s newest business and technology parks, including Clemson University’s International Center for Automotive Research (CU-iCar), as well as the Millennium Campus Business Park.

“Greenville’s unemployment rate is currently 2.2 percent lower than the national average,” explained Goodman. 

“The region’s strong employment rate is a result of a large concentration of automotive, engineering, high-tech and manufacturing companies that have been attracted to the area in recent years. 

"With its employment and population boom poised to increase each year, a high demand for quality product will only continue to rise.”

For a complete copy of the company’s news release, please contact:

Corynne Randel / Jenn Quader
Brower, Miller & Cole
(949) 955-7940

No comments: