Haven Realty Capital, a real estate investment and management firm based in Los Angeles, partnered with CenterSquare Investment Management, an independent, employee-owned real asset manager headquartered in Philadelphia, to close on the first phase of Foxchase, a build-for-rent community in Fountain Inn.
Located near the intersection of Howard Drive and North Main Street, the 32-acre rental development community will feature 87 single family homes and 64 townhomes offering three-, four- and five-bedroom open-concept floor plans as large as 3,040 square feet.
Each home features:
- A private yard.
- Direct access to a two-car garage.
- Nine-foot ceilings.
- Stainless steel energy-efficient appliances.
- Moen plumbing fixtures.
- Granite countertops.
- Wood plank flooring.
The community also offers a variety of amenities, including:
- Playground.
- Pool.
- Cabana.
- Neighborhood walking trail.
Haven and CenterSquare will acquire the development, which is expected to be completed in spring 2023, from Crescent Homes, a home builder based in Charleston, South Carolina, in phases over the next 12 months for $41.8 million.
“Our investment in Foxchase demonstrates CenterSquare’s conviction in the sector and the long-term growth of the Sunbelt markets,” said CenterSquare Vice President of Private Real Estate Chris Picyk. “We look forward to delivering this value proposition with our repeat partner Haven Realty to the residents of Foxchase and will continue to seek similar opportunities across the region.”
The two businesses also own Harrison Landing Townes, a 166-home community nearing completion in Simpsonville, and a 127-home rental community under construction in Atlanta.
