Berkadia Completes $49.8 Million in Combined Sales for Two Multifamily Properties in Greenville, South Carolina

February 22, 2021

Berkadia Completes $49.8 Million in Combined Sales for Two Multifamily Properties in Greenville, South Carolina

February 22, 2021
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CHARLESTON, S.C. – February 22, 2021 – Berkadia announced today the sales of The Park at Sorrento and The Park at Toscana, two garden-style multifamily properties located in Greenville, South Carolina. Managing Director Mark Boyce and Director Blake Coffey of Berkadia’s Carolinas office completed $49.8 million in combined sales on behalf of the seller, an undisclosed entity, and the buyer, Nebraska-based Foundation for Affordable Housing. The deals closed on February 9.

“Park at Sorrento and Park at Toscana were great transactions. We’re seeing a tremendous amount of demand for assets such as these that are well located and provide multiple avenues for upside.  The Greenville MSA is attractive with its accessibility to the Interstate 85 corridor, pro-business environment and in-migration from other areas of the country,” said Boyce.

The Park at Sorrento is located at 660 Halton Road. The 242-unit property features one- and two-bedroom floor plans with in-unit washers and dryers. Community amenities include a swimming pool, a fitness center, a clubhouse and a tennis court. Residents are afforded convenient access to the shops and restaurants along Laurens Road and downtown Greenville.

The Park at Toscana is a 172-unit property located at 2900 E North St. featuring one-, two- and three-bedroom floor plans with private balconies and air conditioning. Community amenities include a fitness center, a business center, a swimming pool and a TV lounge. Residents are afforded convenient access to the Haywood Mall and Interstate 385.

Berkadia Arranges $50M Sale of Two-Property MF Portfolio in Greenville | Connect Media