NAI Earle Furman Multifamily Division Closes $8.8MM Transaction
Mauldin, South Carolina – August 11, 2017 – Tony Bonitati, Kay Hill, Bern DuPree and Gwinna Cahal of NAI Earle Furman’s Multifamily Division represented the buyer, Cedar Grove Capital, in the purchase of Lions Gate Apartments, located on Old Mill Road in Mauldin, South Carolina. The property, built in 1984, consists of 144 units and was fully occupied at the time of sale for $8,800,000. The seller, an affiliate of Kahuna Investments based in Phoenix, Arizona, was represented by Freddy Spencer of Century 21, who is based in Missouri. The buyer plans to make light capital improvements and hold the property for investment.
“We have been very pleased with the performance of the Greenville and Mauldin market in South Carolina. The improvements we made to Lions Gate Apartments since acquisition were the catalyst for a very successful transaction. NAI Earle Furman’s multifamily team were incredibly helpful during the sales process and we look forward to finding a replacement property in the Greenville market," Corey Peterson, President of Kahuna Investments.
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. NAI Earle Furman completed nearly 650 transactions in 2016. 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.
For more information, visit www.naiearlefurman.com