Rincon Partners, LLC ("Rincon") is pleased to announce the acquisition of Commons at Fort Mill (the "Property") in Fort Mill, SC on May 2, 2019 for $19.3 million. The Property is a 144-unit, class B+, multi-family apartment community constructed in 2009. Rincon's investment plan is to upgrade the Property's community amenities including the clubhouse, fitness center and pool area, and renovate the unit interiors to capitalize on the Property's strong multifamily rental market.
The Property is located within the York County submarket of the Charlotte MSA, which is one of the nation's top submarkets for job growth and home to one of the top school districts in the MSA. The Property is easily accessible to Interstate 77 a major North/South corridor connecting Charlotte, NC and Columbia, SC.
Rincon is headquartered in Phoenix, AZ with an office in Atlanta, GA and targets opportunistic and value add multi-family and self-storage commercial real estate in the Southwest and Southeast United States.
For further information on new acquisitions and joint venture opportunities, please contact Jason Ottman, Chief Investment Officer, in our Phoenix, AZ office at (480) 378-2959 or Carson Hammer, Director of Acquisitions, in our Atlanta, GA office at (480) 378-3070.