NAI Earle Furman Closes Sale of 53-Unit Addison Townhomes
December 22, 2014
GREENVILLE, SC – Tony Bonitati, Kay Hill and Bern DuPree of NAI Earle Furman’s Multifamily Division represented the Seller, CRESOF Addison, LLC, in the sale of Addison Townhomes, which includes 53 townhomes located at 104 Watson Road in Taylors, SC. The community was 96% occupied at the time of sale, and although it was originally built in 1978, the interiors and exteriors were completely renovated over the last two years. It sold for $3,204,204. The Buyer was Two Bridges Asset Management, LLC, out of Brooklyn, NY, and they were represented by Tyler Flesch of Red Drum Capital.
“The Addison Townhomes transaction mirrors the turnaround story of the Greenville multifamily market. Once a thriving community in the late 1970’s, Addison fell on hard times during the last downturn. After being completely renovated in 2012 by our locally based sellers, the property once again became a destination community with nearly 100% occupancy,” said Tony Bonitati, multifamily broker at NAI Earle Furman.
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.
