COLUMBIA, SC—Capstone Apartment Partners has arranged the $13.5 million sale of Hunt Club Village: a 200-unit garden-style apartment community in northeast Columbia. The property is ideally situated within a short drive of the robust assortment of dining and retail along the Two Notch Road corridor.
Capstone represented the seller, Southwood Realty, who is based in Gastonia, NC. This is the firm’s second transaction with Southwood in the past week. Yesterday, Capstone announced that Southwood has purchased two adjacent Class A assets in Graham, NC for $62.5 million.
The Indianapolis-based buyer, Pedcor Companies, plans to invest significant capital on the interior and exterior of the property to completely rebrand it. They are excited about the area’s growth story and plan to hold onto the asset long term.
The Capstone Apartment Partners’ transaction team was led by Austin Green, Alex McDermott, and Caleb Troop.
“The buyer is an experienced owner-operator of similar assets with a track record of renovating and rebranding properties to improve the asset class and overall community,” said Green.
Built in 1985, Hunt Club Village is comprised of 200 apartment homes in 24 two-story buildings with an on-site leasing office and swimming pool. The community was approximately 94.5% occupied at the time of closing. Hunt Club Village’s unit mix includes one-, two-, and three-bedroom apartment homes with an average size of 902 square feet. Each apartment home includes a fully equipped kitchen and full-size washer/dryer connections. Second floor units also feature a fireplace, balcony, and vaulted ceilings.