Investors Management Group Inc., a California-based real estate investment and asset management firm, announced Aug. 16 it has acquired Tapestry at Hollingsworth Park at 201 Rocky Slope Road in Greenville.
The 242-unit apartment community is the firm’s first South Carolina multifamily acquisition and was purchased for an undisclosed price.
“While our entry into the Greenville market was multiple years in the making, discussions started heating up earlier this year,” said IMG founder and CEO Neil Schimmel. “There’s an oncoming surge of investor interest in multifamily projects in the beltway between Charlotte and Atlanta. The Greenville market is leading the recovery in terms of economic growth and population gains. These were the top drivers behind this deal.”
With this acquisition, IMG now owns 16 apartment communities encompassing 3,700 units across the U.S. Sun Belt region and 4,300 units nationally.