KBS Legacy Partners Announces New Acquisition

KBS Legacy Partners Apartment REIT, a joint venture sponsored by KBS Capital Advisors LLC and Legacy Partners Residential Realty LLC, has recently made a large multifamily acquisition.

Greer, S.C.—KBS Legacy Partners Apartment REIT, a joint venture sponsored by KBS Capital Advisors LLC and Legacy Partners Residential Realty LLC, has recently made a large multifamily acquisition. The property, called Crescent Park, is a Class A apartment community in Greer, S.C.

Crescent Park, developed in 2008, includes 240 units and is currently 95 percent occupied. The property is 212,820 square feet and has one-, two- and three-bedroom units, which all feature crown molding accents and walk-in closets.

Community amenities include a swimming pool, clubhouse, billiards room and fitness center. Crescent Park is conveniently located near I-85, GSP International Airport, and downtown Greenville, S.C.

“Crescent Park presented us with a core investment opportunity to acquire a high-quality, newly constructed development in one of the 25 key markets we’re targeting for multifamily growth,” W. Dean Henry, president of Legacy Partners Residential Realty, said in a press statement.

Because of this acquisition, KBS Legacy Partners Apartment REIT now manage 1,195 apartment units in four states.