Investment Opportunity
Built-For-Rent Townhomes Development in Simpsonville, SC
(Greenville MSA)
Built-For-Rent Townhomes Development in Greenville MSA
42-unit townhome style built-for-rent development in Simpsonville, SC.
Designed to capture the growing demand from families looking for a small-town suburban location in the greater Greenville area with a strong public school system to raise their kids.
Experienced Sponsors and General Contractor
General contractor: With over 30 years of experience, DRB Homes has built over 100 active residential communities on the US east coast.
Sponsor BlueField Residential’s principals have a combined track record of well over $1bn in real estate investment and development.
Irreplaceable Location in Downtown Simpsonville
Located right off Main Street with retail, restaurants and the schools in walking distance.
Only 0.3 miles from Hillcrest Middle School.
Immediate access to I-385 and I-185, with a 15 mins commute to downtown Greenville and Michelin HQ and 20 mins to BMW plant.
High Barrier to Entry Market
The lack of availability of multifamily and townhome zoned land and the Town‘s and county’s reluctance to rezone (change in ordinances) make it a market with high barriers to entry for multifamily and townhome projects.
Strong demographics and rent growth
$107,965 avg. household income (1-mile radius).
Sustained above average population growth creating demand / supply gap for townhome and multifamily rental units. Demand continues to outpace supply resulting in continuous positive absorption.
Multifamily and Townhome rent comparables in Simpsonville are at over $2,000 per month.
