West Shore Expands Southeast Presence
- Jun 02, 2020
West Shore has acquired two Class A communities totaling 548 units in the Carolinas. Berkley Hall Cos. sold Plantation at Pleasant Ridge in Greensboro, N.C., and a private investor traded Town Center at Lake Carolina in Columbia, S.C., according to Yardi Matrix. The Greensboro asset traded for $42 million, with Sun Life Financial providing $26.5 million in acquisition financing.
Plantation at Pleasant Ridge, completed in 2015, has 288 one-, two- and three-bedroom units ranging in size between 927 and 1,390 square feet. Amenities include modern kitchens and private balconies, as well as a zero-entry swimming pool, outdoor cabanas, a fire pit, a 24-hour fitness center and a clubhouse. Situated on 15 acres at 1198 Pleasant Ridge Road, the property is close to Piedmont Triad International Airport, Highway 68 and Interstate 40, with downtown Greensboro less than 20 miles away.
The South Carolina asset, located at 20 Helton Drive near Lake Carolina, has 260 one-, two- and three-bedroom units sized between 765 and 1,546 square feet. The community features open floor plans with high ceilings in addition to amenities including a clubhouse, a pool, a fitness center with a yoga studio, parks and walking trails. The property is some 15 miles north of downtown Columbia, accessible via Interstate 77.
The purchase of the communities brings West Shore’s Carolinas portfolio to seven properties. Last year, the company grew its regional footprint with the addition of a Class A community in Rock Hill, S.C.