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JV Snags 124-Unit MF Community in Columbia

A joint venture between Lexerd Capital Management and LMS Harbison has acquired the Lakes at Harbison, a 124-unit multifamily community in Columbia. The sales price and seller was undisclosed.

Built in 1980, the community has been renamed The Lory of Harbison. Floor plans range in size from 950 to 1,230 square feet. Amenities include a pool, fitness center, basketball court, playground, clubhouse and tennis court. The community is located at 100 Fairforest Rd., approximately 10 miles northwest of downtown Columbia.

“We are excited to partner with LMS Harbison on our first joint venture acquisition,” said Albert Lord III, CEO at Lexerd. “We are very pleased to have closed on this deal, especially given the challenging market environment during the Covid-19 crisis. The Lory of Harbison is a well-maintained, updated property in a highly sought-after section of Columbia, SC.”

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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.