GREENVILLE, SC—Capstone Apartment Partners announces the $35.52 million sale of Walden Creek: a 240-unit garden-style apartment asset in Greenville, South Carolina. The community is ideally situated off Woodruff Rd, providing residents with easy access to an abundance of grocery, retail, dining, and entertainment establishments, as well as Interstates 85 and 385.
The Capstone transaction team was led by Alex McDermott, Austin Green, and Caleb Troop. The seller is United Residential Properties, who is based in Macon, Georgia.
“Walden Creek is poised for incredible organic rent growth as Greenville, South Carolina continues to be a hot rental market. Featuring top of the market amenities and spacious floorplans, the property represents a premier investment opportunity in Greenville,” said McDermott.
The buyer is Southwood Realty, who is based in Gastonia, North Carolina just outside of Charlotte. They plan to make targeted CapEx investments around the property.
Built in 2003, Walden Creek is comprised of one-, two-, and three-bedroom apartment homes and was approximately 95% occupied at the time of closing. Each apartment home features a fully equipped kitchen with maple cabinetry and black appliances, crown molding, garden tubs, an office niche, washer/dryer connections, and a patio or balcony. Community amenities include a swimming pool, fitness center, clubhouse, playground, dog park, car wash, picnic/grilling area, and laundry facilities.