Columbia, Memphis Properties in $67M Multifamily Portfolio Buy
Colliers has arranged the $66.9 million acquisition and repositioning financing for a six-property, 933-unit multifamily portfolio located across Columbia, SC (four properties) and Memphis, TN (two properties).
Four garden-style apartment developments — Copperfield Apartments, Creekside Place, Retreat at Broad River and Riverbanks Retreat — are situated in the West Columbia neighborhood.
The two Memphis mid-rise apartment developments, Azur Tower and SoMa Apartments, are both located within the Memphis medical district.
Lexington Partners, as the new owner, plans to carry out a major renovation of the portfolio. The wide-ranging capital improvement project will substantially upgrade the apartment units, common areas, parking lots and exterior of the properties, including replacing walkways and decks to create a homey environment.
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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