Pelham Crossing

Description

Pelham Crossing is a 39-lot development in Greenville, SC, being developed for a national home builder. VanRock secured the site off-market in February 2020, initiated entitlement, and signed a completion lot purchase agreement with a reputable builder. Later, an underutilized adjacent commercial parcel was acquired to increase density at the same price per lot, boosting overall profitability.

Details

Portfolio Type:

Mixed Use

Location:

Greenville, SC

Projected Start Date:

February 2023

Projected Completion Date:

May 15, 2025

Projected IRR:

30%+

Projected Equity Multiple (EMX):

2x+

Unit Count:

39

Acquisition Date:

February 2020

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