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Atlanta & Southeast  + Carolinas  + Apartments  | 
Affordable Upstate has acquired Park West Apartments in Greenville, SC for $39 million.

Affordable Upstate Spends $39M on Multifamily to Preserve Greenville Affordability

Greenville, SC-based Affordable Upstate, whose mission is to preserve local affordable housing, has acquired the 359-unit Park West Apartments in Greenville, SC for $39 million.

Aline Capital sourced $32.4 million of bridge debt for the acquisition and rehabilitation from a private debt fund that was able to provide lucrative terms given the affordable nature of the business plan. Affordable Upstate will spend over $8 million on improvements including repairing deferred maintenance, interior and exterior upgrades and amenity additions. 

Affordable Upstate was co-founded by Brian Albers and Mario Brown after they met in the Leadership Greenville program and both saw the community’s affordable housing needs. They have purchased and preserved over 1400 workforce apartment units in the Upstate area of SC.

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About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.

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