News

Blue Ridge Companies Continues Property Management Growth in Greenville, SC Market

High Point, NC. (November 2016) — Blue Ridge Companies, a High Point, NC-based real estate investment and management firm, was recently awarded management of the Stillwater at Grandview Cove, a 240-unit apartment community located in Simpsonville, SC.

Originally built in 1989 and formerly known as The Enclave at Grandview, the rebranded Stillwater hosts 240 units with rents currently ranging from $775 to $1,025 a month. The apartments range in size from 780 square feet up to 1,200+ square feet and include one, two and three-bedroom floor plans. The spacious floor plans offer market leading, oversized bedrooms, 9 foot ceilings, and fire places in select units.

Managing the property on behalf of its new ownership, Toro Real Estate Partners, Blue Ridge will oversee the execution of property renovations and daily management activities. Blue Ridge plans to immediately oversee capital investments into the property’s exterior to further increase its appeal to local renters. Additionally, following a succinct value-add strategy, Blue Ridge will begin to update the interior of the property by adding upgraded appliances, lighting, and modern flooring, cabinetry, and countertops as units become available.

“Perfectly situated in a natural setting with serene landscaping and offering a full line of amenities and convenient access to downtown Greenville, The Stillwater’s location in the desirable Simpsonville submarket provides instant appeal for today’s sophisticated renters” said Cole Healy, a Real Estate Analyst for Blue Ridge Companies. “Stillwater checked all of our boxes and perfectly aligned with our client’s acquisition profile, and presented itself as a great investment opportunity for our client to take advantage of the strong population and job growth in the Greenville metro and its submarkets”, added Healy.

Toro REP is a New York based private real estate group, and the property represents their second investment in the Greenville metro within the last 12 months.