West Shore Invests $44M in SC Property
The company has acquired Riverwalk Apartments, a 307-unit Class A community in Rock Hill, S.C., around 22 miles from downtown Charlotte.
West Shore LLC has purchased Riverwalk Apartments, a 307-unit Class A community in Rock Hill, S.C. Wise Properties sold the asset for $44 million, according to Yardi Matrix. West Shore LLC also received $36 million in financing, through NXT Capital Debt Funds, to acquire the property.
Situated at 517 Pink Moon Drive, Riverwalk Apartments is near the intersection of Freeway 21 and Interstate 77, approximately 22 miles from downtown Charlotte and less than 24 miles from Charlotte Douglas International Airport. The community is also close to an expanding retail and lifestyle scene.
Constructed in 2016, the 10-building community occupies more than 16 acres and comprises a mix of one-, two- and three-bedroom units averaging 1,201 square feet. The units feature above-standard ceiling heights, granite counter tops, stainless steel appliances, patios and walk-in closets. Common-area amenities include:
- controlled access
- fitness center
- business center
- swimming pool and spa
The acquisition marks West Shore’s fourth major investment in North and South Carolina. The Boston-based firm has a multifamily portfolio that exceeds $750 million and focuses on growing in markets with substantial job growth and positive demographic trends.