5 Hahilazon Street
Ramat Gan, Israel 5252269
Four Tower Bridge, 200 Barr Harbor Dr #400
Conshohocken, PA 19428
Tel: +1-484-380-9264 Extension 9264
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Buligo Capital Partners and Graycliff Capital, in a joint venture, acquired an under-performing property with value add potential. Buligo and Graycliff quickly began to increase below market rents, as well as address deferred maintenance, and upgrade units and amenities to reposition the property.
The Property is located in a Class A, high barrier to entry submarket of Charleston, SC, with proximity to a major highway and retail corridors. Charleston is a thriving city with strong growth fundamentals, fueled in part by the expanding presence of Boeing Aeronautics and a burgeoning technology ecosystem.
The Gardens at Ashley River was successfully repositioned by increasing rents on both upgraded and classic units. Due to high renewal rates, fewer units were upgraded than anticipated, leaving the opportunity for additional value creation for the buyer. The property was taken to a higher standard by upgrading amenities, including the clubhouse, landscaping, leasing office, pool area and fitness center. The result was a significantly higher return than anticipated over a shorter term than planned.