Constructed in 2008, the 158 unit (211,368sf) apartment complex is comprised of 6 three-story buildings located on 23.64 acres of land.
The property is located within the central portion of Spartanburg County and is walking distance to the University of South Carolina – Upstate. The construction is slab on grade with wood frame, pitched roofs with cement board siding and brick veneer exteriors. There are two separate types of floor plans, with an average unit size of 1,338 sf. The property offers an amenity package that includes: a sparkling swimming pool, tanning bed, fitness center, computer lab, game room with pool table and flat screen TV including a Wii, and outdoor fireplace with grill. Unit amenities include: private bedrooms, washer and dryer in each unit, personal storage, high-speed internet in each bedroom, fully furnished apartments, full sized kitchens, free cable and 24 hour maintenance.
- Acquire a newly constructed, non-stabilized asset on an all-cash basis
- Replace the student led management team with a professionally run team by Lynd.
- Grow occupancy while raising rents with the intent to sell after 36 months.
|Investment Type:||Distressed Student Housing Opportunity|
|Property Type:||Student Housing|
|Status:||Campus Core Upstate has been sold to a private real estate firm|