TriBridge Residential, an Atlanta-based multifamily investment and management company, announced it has acquired McBee Station in downtown Greenville for $44.7 million. The property includes 197 Class A luxury apartment units. TriBridge Residential will manage the apartments.
The luxury apartments feature downtown views of Greenville, large floor plans with 9-foot ceilings, a resident game room, 24-hour fitness center, resort-style swimming pool, and monthly socials. TriBridge Residential plans to complete light upgrades to the apartments as well as improvements to the common area amenities. The apartment complex is currently 98 percent occupied.
“This acquisition builds on our strategy of buying high-quality assets in irreplaceable locations,” said Steve Broome, managing partner at TriBridge. “This is TriBridge’s first acquisition in Greenville during this cycle; we are optimistic about the city’s growth potential and strong demographics.”
TriBridge secured the deal in early 2015 with a long-time institutional investment partner, and TriBridge Equity Partners II, the company’s co-investment fund. In the past twelve months, the company has completed over $1.2 billion in total transactions, including over $650 million in new acquisitions.
