BLOG

Affordable upstate

Monument Capital Management sells Park West Apartments for $39M


Greenville, SC-based Affordable Upstate, whose mission is to preserve local affordable housing, has acquired the 359-unit Park West Apartments in Greenville, SC for $39 million.


Aline Capital sourced $32.4 million of bridge debt for the acquisition and rehabilitation from a private debt fund that was able to provide lucrative terms given the affordable nature of the business plan. Affordable Upstate will spend over $8 million on improvements including repairing deferred maintenance, interior and exterior upgrades and amenity additions. 

Affordable Upstate was co-founded by Brian Albers and Mario Brown after they met in the Leadership Greenville program and both saw the community’s affordable housing needs. They have purchased and preserved over 1400 workforce apartment units in the Upstate area of SC.


*Original news article featured in Connect CRE by Lisa McDuffie- linked here.

Atlanta & Southeast + Carolinas + Apartments | October 25, 2022

Diversify Your Portfolio with Commercial Real Estate Investments Opportunities

BECOME AN AU IMPACT INVESTOR!

MORE FROM THE BLOG

Revitalizing Naturally Occurring Affordable Housing (NOAH): A Value-Add Approach

May 27, 2025
Discover how revitalizing Naturally Occurring Affordable Housing (NOAH) in Upstate SC—like the Vista West III project—can deliver strong returns while preserving affordability. Learn why value-add renovations of Class B/C properties offer a smarter, more impactful alternative to new construction in today’s market.

Workforce Housing vs. Class A Apartments: Why “Affordable” Matters for Investors

By Mario Brown • May 21, 2025
Discover why workforce housing often outperforms luxury apartments in stability, rent growth, and long-term returns. This blog breaks down Class A vs. Class B/C multifamily and explains why “affordable” housing is a smart play for passive investors.
Stagflation is hitting working families

Bracing for Stagflation: 5 Ways We’re Supporting Tenants & Safeguarding Investments

By Mario Brown • May 5, 2025
Stagflation is hitting working families hard—rising costs, stagnant wages, and mounting pressure on household budgets. At Affordable Upstate, we’re not just watching from the sidelines. In this post, we share five key strategies we’re using to support our tenants and protect your investments during these challenging times. From flexible rent options to improved tenant screening, see how we’re staying resilient when it matters most.
VIEW MORE POSTS