Case Study

Value Add Multifamily Repositioning

Spartanburg Portfolio
Spartanburg, South Carolina

Year Acquired
2014
Year Sold
2017
Number of Units
274
Hold Period
3 Years

Opportunity

Buligo Capital Partners acquired two stabilized assets with value added potential. The properties were upgraded to compete with other communities in their respective submarkets.

Location

The properties are located in the growing Greenville-Spartanburg MSA, with close proximity to major transportation arteries and downtown. The MSA has strong and growing fundamentals due to government incentives resulting in new businesses relocating to the area.

Result

The acquisition provided the opportunity for sustained cashflow during the renovation of the property. Units and amenities were upgraded to reposition the properties.