The 305-unit Millennium Apartment Homes complex on Fairforest Road was acquired by California-based KBS Legacy Partners Apartment REIT. According to a news release from KBS, Millennium was 93 percent occupied at the time of the acquisition. The 33-acre complex built in 2009 includes a clubhouse and 76 garages. It covers 303,131 rentable square-feet.
KBS currently owns 2,599 apartments units in Maryland, Minnesota, Texas, North and South Carolina and Illinois.
“We believe this investment represents a strong, Class-A asset combined with favorable market dynamics triggered by positive job growth and solid overall apartment fundamentals,” said Tim O’Brien, KBS senior managing director. He cited Greenville’s location between Atlanta and Charlotte as valuable factors.
