TriBridge Residential Acquires Class A Property In Downtown Greenville, SC

Jul 31, 2015, 10:32 ET from TriBridge Residential

ATLANTA, July 31, 2015 /PRNewswire/ -- TriBridge Residential, an Atlanta-based multifamily investment and management company, announced today that they acquired McBee Station, a Class A luxury apartment community located in the heart of downtown Greenville, SC. The property includes 197 luxury apartment units and is located adjacent to the only grocery store (Publix) in downtown Greenville. TriBridge Residential will manage the apartments.

"The centrally-located McBee Station is the premier community for residents who value convenient access to the many entertainment and lifestyle options of downtown Greenville," according to Yates Dunaway, Vice President of Acquisitions at TriBridge. The community is located blocks from the thriving restaurant and retail district downtown, and less than a mile from Falls Park on the Reedy, the Swamp Rabbit Trail, and Cleveland Park. The luxury apartments feature downtown views of Greenville, large floor plans with 9-foot ceilings, a resident game room, 24-hour fitness center, resort-style swimming pool, and monthly socials. TriBridge Residential plans to complete light upgrades to the apartments as well as improvements to the common area amenities.

"This acquisition builds on our strategy of buying high-quality assets in irreplaceable locations," said Steve Broome, Managing Partner at TriBridge. "This is TriBridge's first acquisition in Greenville during this cycle; we are optimistic about the city's growth potential and strong demographics."

TriBridge secured the deal in early 2015 with a long-time institutional investment partner, and TriBridge Equity Partners II, the company's co-investment fund.  In the past twelve months, the company has completed over $1.2 billion in total transactions, including over $650 million in new acquisitions.

About TriBridge Residential

TriBridge Residential is a full-service multifamily investment, management, and development company based in Atlanta, GA, with over 10,000 units and $1.2 billion in assets under management as of June 30, 2015. With 60 corporate professionals and 215 on-site staff, the firm focuses on markets in the Southeast and provides a vertically-integrated platform with a 20+ year track record through its subsidiaries and affiliates.  Lee Walker, Steve Broome, and Bobby West serve as the firm's managing partners.

 

SOURCE TriBridge Residential