Greenville South Carolina Multifamily Portfolio

[Arn Cenedella]

Investment Info:

Large multi-family (5+ units) commercial investment investment.

Purchase price: $138,000,000
Cash invested: $50,000,000

Numerous apartment assets in Greenville South Carolina.
Click link to access complete portfolio page:
HTTPS://investwithspark.com/portfolio

What made you interested in investing in this type of deal?

The Greenville market is strong - high population and job growth - diverse economic base including manufacturing, logistics and transportation, medical and leisure & hospitality. Strong median income growth. Landlord friendly area.

How did you find this deal and how did you negotiate it?

Network network network.
Work with brokers and the local investor community.
Strong social media presence.
Online networking events on Zoom and Meet Up.
Attend multifamily conferences.

How did you finance this deal?

Agency debt, local bank debt, and seller finance.

How did you add value to the deal?

Interior renovations.
Install washers and dryers.
Exterior improvements including dog parks, covered picnic and grill areas, fenced yards, updated leasing centers.

What was the outcome?

Property is cash flowing and we have long term fixed rate debt.
All good.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Brian Walsh at Progressive Properties of Greenville.