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About: Central Oaks was a collection of 32 apartments purchased in 2021. This property was located, in fast growing Summerville. South Carolina; in the Charleston, SC MSA. Desirable mix of  2 & 3 bedroom units, all with W/D connections. 

Why we liked it: Purchased at 97% of units were currently occupied and rents were $300 under market. Only one unit was down due to renovations at acquisition. The GP team fully renovated the remaining 31 units and was able to exit the investment in 24 months. 

Investment Returns: 29.67% IRR to partners

Industry: Multifamily Commercial Real Estate

Location: South Carolina