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Arch Cos., Drake Real Estate Acquire 672-Unit MF Portfolio in Columbia, S.C.

A partnership between Arch Cos. and Drake Real Estate Partners has acquired a four-property multifamily portfolio in Columbia, S.C. totaling 672 units. The sales price was not disclosed.

The portfolio includes three properties southeast of downtown Columbia in the Hazelwood Acres neighborhood—the 240-unit Austin Woods at 7648 Garners Ferry Road, 200-unit Harbour Landing at 7625 Garners Ferry Road and 120-unit Mallard Pointe at 1101 Hallbrook Drive as well as one property northeast of downtown in the Ravenwood neighborhood: Ravenwood Hills at 4215 Bethel Church Road, which contains 112 units.

The four properties have benefited from steady occupancy and Arch plans to implement a value-add capital improvements program through its vertically integrated Arch Builders division to address deferred maintenance and deliver substantial interior upgrades. The properties will be operated by Arch’s in-house management team.

The seller was not disclosed.

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About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.

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