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NAI Earle Furman Closes Sale of Windwood Apartments

05/10/2016

NAI Earle Furman Closes Sale of Windwood Apartments
 

80-Unit Multifamily Property in Pickens, South Carolina sells for $1.9 Million

 

Pickens, South Carolina (April 26, 2016): Tony Bonitati, Kay Hill and Bern DuPree of NAI Earle Furman’s Multifamily Division represented the seller, SC Apartments, LLC, in the sale of Windwood Apartments, an 80-unit value-add property located at 208 Windwood Drive in Pickens, SC. The multifamily property sold for $1,900,000 and was 84 percent occupied at the time of sale. This transaction brings their division’s 2016 sales volume to more than $20,000,000. NAI Earle Furman’s Multifamily Division previously represented this property in 2013 when Windwood Apartments was sold to SC Apartments, LLC for $941,000.

“We are pleased to be the market leaders in Multifamily transactions in our area, while at the same time staying active in sales and development throughout the Carolinas,” said Tony Bonitati, NAI Earle Furman Shareholder and Multifamily Division Broker. More than 500 of the units sold this year by NAI Earle Furman’s Multifamily team are slated for some form of renovation, including Windwood Apartments. The property’s new owner, DHP Real Estate, based in Greenville, SC, has plans for both interior and exterior improvements to the property.

“Bringing much needed improvements to an older property keeps affordability, but adds to a quality lifestyle” said Bonitati. “It is exciting to see the much-needed new apartment development in our downtown, but we also take pride in transactions that involve improving older properties in the Upstate.”

About NAI Earle Furman: Based in Upstate South Carolina, NAI Earle Furman is a leading full-service commercial real estate firm specializing in the office, industrial, investment, retail, multifamily, healthcare and land sectors. They offer a wide range of services including sales, leasing, development, site selection, consulting and property management. A partnership with NAI Global allows NAI Earle Furman to access a network of worldwide real estate connections and offer international commercial real estate services to Upstate clients, while retaining local personality and knowledge. 2016 marks NAI Earle Furman’s 30th Anniversary. For more information, visit www.naiearlefurman.com.

 

Contact:  Lauren Newton
864-232-9040 lnewton@naiearlefurman.com

Source

NAI Global

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