Wednesday, July 16, 2014

MHA Brokers Four Multifamily Sales in South Carolina Totaling $39 Million


Marc Robinson
CHARLOTTE, NC — Multi Housing Advisors (MHA) has recently brokered four multifamily sales in South Carolina for a total of more than $39 million. Marc Robinson and Jordan McCarley of MHA’s Charlotte, North Carolina, office represented the sellers of the properties.

 “The offerings received tremendous investor interest and illustrate that investor demand for multifamily assets in the Southeast is very strong,” Robinson said.

Details are the deals are below:

·      Covenant Capital acquired the 246-unit Century Forest, located in Greenville, South Carolina, 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.

Jordan McCarley

·      PRG Real Estate sold a two-property portfolio in Spartanburg, South Carolina, comprised of The Corners Apartments and Magnolia Townhomes, to Graycliff Capital for $10 million. Both assets were constructed in 1974. The Corners Apartments comprises 176 units and Magnolia Townhomes includes 98 units.

·      Hudson Capital purchased the 120-unit Fox Run, located in Camden, South Carolina, for $9.79 million. Pulliam Investments sold the property, constructed in 2002. Amenities include a fitness center, laundry facility and swimming pool.

 “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,” McCarley said.

For more information, visit www.usmha.com.

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

Stephen Ursery
The Wilbert Group
404-549-7150 (O) 404-405-2354 (C)

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