Capstone Brokers Sale of South Carolina Community
- Oct 28, 2019
Capstone Apartment Partners has arranged the sale of Hunter’s Way, a 304-unit residential property in Columbia, S.C. GLP Investments acquired the community at 325 Percival Road from River City Ventures, who paid $11.2 million for it in 2018, according to Yardi Matrix. Capstone’s Ron Corrao, Alex McDermott, Austin Green and Brian Ford represented the seller and procured the buyer in the deal.
Hunter’s Way occupies 14.4 acres in the Forest Acres neighborhood near Interstate 77, approximately 6 miles from downtown Columbia. The transit-oriented property provides access to bus line 75 and is within one mile of East Forest Plaza I, which offers several dining and shopping options. Additionally, Hunter’s Way is around a 5-minute walk from an Extra Space Storage facility.
Constructed in 1970, the 38-building community encompasses one-, two- and three-bedroom units, averaging 996 square feet. The apartments feature washer and dryer hookups, ceiling fans and private balconies or patios. Property amenities include a clubhouse, playground, swimming pool, laundry facilities in each building and 362 parking spaces. GLP Investment plans to rebrand the community, as well as to invest in capital improvements to upgrade and reposition the buildings.
Earlier this month, the brokerage firm also facilitated the sale of a 30-unit garden-style community in Charlotte.
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