East Greensboro apartments sell for $13.5 million
The apartments were sold to a Greenville, South Carolina, real estate company.WAVEBREAKMEDIA LTD
VanRock Holdings Announces Successful Closure of East Main St Apartments Investment
GREENVILLE, SC – VanRock Holdings LLC is delighted to announce the successful closure of its investment in the East Main St Apartments, marking another significant achievement in the company’s growing portfolio.
Located in Spartanburg, SC, the East Main St Apartments feature a collection of 16 units, offering a unique blend of modern living in a vibrant community. This property, built in 1945 and situated on a 0.313-acre land, exemplifies VanRock’s commitment to revitalizing and enhancing value in residential properties.
The successful acquisition and planned development of this property aligns with VanRock’s strategic approach to investing in and repositioning properties in high-growth areas. East Main St Apartments is set to become a cornerstone of community living in Spartanburg, benefiting from its proximity to downtown and the University of Converse campus.
VanRock Holdings continues to focus on identifying and developing properties that not only provide substantial returns to its investors but also contribute positively to their communities. For more information, please contact Jenny Reyes at info@vanrockre.com or visit VanRock Holdings’ website.
VanRock Holdings LLC Successfully Closes on Alpine Heights Development in Anderson, SC
GREENVILLE, SC – VanRock Holdings LLC, a leader in the real estate investment sector, is proud to announce the successful closure of their ambitious Alpine Heights project. This development signifies a major milestone, reinforcing VanRock’s commitment to innovative real estate solutions in the Greenville area.
Alpine Heights, a thoughtfully planned community, comprises twenty-two single-family homes situated on 28 acres in Anderson, South Carolina. The project reflects VanRock’s strategic approach to real estate development, combining practicality with modern living standards.
Stan Gendlin and Bryan De Bruin, the principals of VanRock Holdings, have been instrumental in bringing this project to fruition. Their combined expertise in real estate development and legal intricacies has been pivotal in the seamless execution of Alpine Heights.
The successful closure of the Alpine Heights project not only underlines VanRock’s proficiency in real estate development but also showcases their ability to deliver high-quality living spaces. VanRock remains dedicated to furthering their vision of enriching communities through strategic and sustainable real estate projects.
For more information about VanRock Holdings LLC and their future projects, please contact info@VanRockre.com.
This press release is intended for informational purposes only. For more detailed information on the Alpine Heights project and other VanRock Holdings initiatives, please visit their website or contact their office directly.
Press Release: VanRock Holdings Announces Successful Closure of East Main St Apartments Investment
GREENSBORO, NC — Capstone Companies has successfully facilitated the $13.5M off-market sale of Cottage Gardens, a 176-unit, 1960-constructed apartment community in the Eastside Park submarket of the Greensboro, NC MSA. The seller, a private firm based in North Carolina, kept the property exceptionally well maintained with very little exterior deferred maintenance. Capstone’s transaction team, led by Ron Corrao, worked diligently alongside Eric Liebich, Josh Greenwald, Scott Fuller, Matt Weinstein, and Dane Lozier to ensure the successful completion of this deal.
Cottage Gardens presents a tremendous opportunity for the buyer, VanRock Real Estate. With little deferred maintenance, they plan to build upon the numerous improvements made by the prior owner to enhance the interiors, exteriors, and amenities for the benefit of current and future residents. VanRock Real Estate assumed the in-place HUD loan at an extremely attractive interest rate, which further strengthens the potential for a successful investment.
The community benefits from its strategic location less than three miles from Downtown Greensboro and to a number of major roadways, putting the residents within close proximity to all major demand drivers Greensboro and surrounding areas have to offer. The property is also within a 10-minute drive to four colleges and universities. Cottage Gardens operated at stabilized occupancy at the time of closing.
