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Affordable Upstate, Reedy Property Group buy $13.9M worth of properties in Welcome community
Affordable Upstate, a regional multi-family investment firm, announced Jan. 4 it has partnered with Reedy Property Group, a full-service property management company, to acquire Fairhill Apartments and Fairmeadow Townhomes for $13.9 million.
The complexes, which are located off White Horse Road in the Welcome community, consist of 151 one-, two- and three-bedroom units of affordable workforce housing.
Following the acquisition, Affordable Upstate and Reedy Property Group have planned to overhaul areas of the properties, including
- Outdoor amenities
- Communal areas
- Property branding
The companies also plan to upgrade each unit’s interior with energy-efficient modern finishes and fixtures.
“We are excited to close on these two multi-family assets and continue our focus on providing quality affordable housing options in Upstate, South Carolina,” said Affordable Upstate co-founder Mario Brown.
Fairhill Apartments and Fairmeadow Townhomes join Reedy Property Group’s property management portfolio of over 1,800 Upstate units.
The communities are also part of Affordable Upstate’s 900-unit workforce housing portfolio across the Upstate region.
PRESS RELEASE ARTICLE POSTED HERE WAS ORIGINALLY WRITTEN AND POSTED BY THE UPSTATE BUSINESS JOURNAL. CLICK HERE TO READ FULL ARTICLE.
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