NAI Earle Furman Closes Portfolio Sale of 246 Multifamily Units in Westgate and Woodside Apartments
February 1, 2015
SPARTANBURG, SC – Tony Bonitati, Kay Hill and Bern DuPree of NAI Earle Furman’s Multifamily Division represented the Seller, Southwood Realty of Gastonia, NC in the sale of Westgate and Woodside Apartments. Westgate Apartments, a 122-unit complex located at 430 East Blackstock Road in Spartanburg, SC and Woodside Apartments, a 124-unit complex located at 1631 Fernwood Glendale Road, Spartanburg, SC were built in 1977 and 1973 respectively.
The multifamily properties sold together for $6,400,000 and were occupied at 96 and 92 percent at the time of sale. The Buyer was DBC Real Estate Management, LLC out of Warrendale, PA. This sale represents the NAI Earle Furman’s Multifamily Team’s third transaction representing Southwood in a disposition.
About NAI Earle Furman: Based in Upstate South Carolina, NAI Earle Furman is a leading full-service commercial real estate firm specializing in the office, industrial, investment, retail, multifamily, healthcare and land sectors. They offer a wide range of services including sales, leasing, development, site selection, consulting and property management. A partnership with NAI Global allows NAI Earle Furman to access a network of worldwide real estate connections and offer international commercial real estate services to Upstate clients, while retaining local personality and knowledge. For more information, visit www.naiearlefurman.com.
