Done Deals: HFF closes sale of Class A multi-housing community in Greenville, SC

Thursday, June 6, 2013

HFF closes sale of Class A multi-housing community in Greenville, SC

Candleton Village apartments, Greenville, SC

ATLANTA, GA – HFF announced today that it closed the sale of Candleton Village, a 314-unit, Class A garden-style multi-housing community in Greenville, South Carolina.

Megan Thompson

HFF marketed the property on behalf of the Carroll Companies. The buyer, Hudson Capital Investments, LLC along with RW Partners headed by Reginald Winssinger from Phoenix, Arizona, purchased Candleton Village for an undisclosed amount free and clear of existing debt.

Candleton Village is located at 741 Woodruff Road near the intersection of Interstate 85 and Interstate 385 near Greenville Downtown Airport. Built in 2006, the property features one-, two- and three-bedroom units averaging 986 square feet each.

The HFF investment sales team representing the seller was led by senior managing director Jason Nettles and director Megan Thompson.

Jason Nettles

“Candleton Village presents the unique opportunity for increased revenue potential from renovating unit interiors with relatively new systems in-place. The property’s location on Woodruff Road amongst Greenville’s most compelling new developments solidifies its position as one of the most centrally located apartment communities,” commented Thompson.

The Carroll Companies, headed by Roy E. Carroll, II, is one of the region’s largest owners of multi-housing properties.

The firm started as a single family custom home developer in the 1980’s, and has since branched out into multi-housing, commercial and office development.

In the last 11 years, the firm has built and/or has under construction more than 11,000 apartment units representing an asset value of more than $1.2 billion.