Upstate Business Journal

Boiling Springs apartment community sold for $19M

Connecticut-based Hamilton Point Investments purchased the multifamily complex on Asheville Highway from Greenville-based Graycliff Capital Partners on Jan. 12.

February 22, 2017

by Trevor Anderson

The Villas at Lawson Creek, a 202-unit apartment community in Boiling Springs, was recently sold for $19 million.

Spartanburg County property records showed Connecticut-based Hamilton Point Investments purchased the multifamily complex at 9159 Asheville Highway from Greenville-based Graycliff Capital Partners on Jan. 12.

Built in 2009, the Villas at Lawson Creek has a mix of one-, two- and three-bedroom apartments, a cardio fitness center, movie theater, tropical pool, two-story clubhouse, business center, community pavilion, patio sunrooms, car care facility and a 24-hour laundry facility, according to Graycliff Capital Partners.

Chris Yeagle and Kyle Chase with On Eleven Partners, headquartered in Mount Pleasant, brokered the deal.

“There has been over $15 billion in capital investments in the Greenville-Spartanburg market in the last nine years and $400 million in announcements during the last quarter of 2016,” Yeagle said in a statement. “These capital investments in the Upstate will continue to bring strong job and population growth to the area.”

Graycliff Capital Partners said it owns about 4,000 units and has completed more than $500 million in acquisition and development transactions since 2009.

Hamilton Point Investments, founded in 2009 by Matt Sharp and David Kelsey owns 23 apartment communities in the Carolinas, Georgia, Ohio, Mississippi, Louisiana, Connecticut, Indiana, according to the company’s website.

The Villas at Lawson Creek is the only facility the company owns the Greenville-Spartanburg area.

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