Out-of-state buyers acquired part of a long-term rental community at Fountain Inn for $41.8 million and plan to close the remaining homes over the next 12 months.
fox hunting is a 151-home rental community built by a Charleston-based homebuilder Crescent Houses. It will include 87 single-family homes and 64 townhouses with three-, four-, and five-bedroom options available. The community is under construction on 32 acres near the intersection of Howard Drive and North Main Street at Fountain Inn and is expected to be complete by Spring 2023.
In a joint venture, California-based real estate investment and management company Haven Real Estate Capital and Pennsylvania-based real estate asset manager CenterSquare Investment Management completed the first phase of the acquisition.
This is the second build-to-let community that Haven Realty Capital and CenterSquare Investment Manager own together in the greater Greenville area. Last February, the partnership acquired Harrison Landing Townes in Simpsonville, a nearly complete community of 166 homes. They also have a rental community of 127 homes under construction in Atlanta.
The Four Points by Sheraton Spartaburg is set to open in July
A new hotel will open in Spartanburg next month.
Four Points by Sheraton Spartanburg will welcome its first customers on July 12. The hotel has six floors and 200 rooms. There are two floors of executive suites, four meeting rooms, a boardroom, a saltwater pool, and a fitness center. Poke 1831 is the hotel restaurant.
“This has been meticulously designed and engineered to give Spartanburg a world-class hotel,” said Brent Scarbro, Director and Vice President of Operations and Sales for Maximum Hospitality.
The property at 9027 Fairforest Rd. was first built as the Wilson World Hotel and has been owned by various corporations. Scarbro said the property had not been used for several years.
“Every element of this hotel has been gutted and replaced, so there are new electricals, drywall, ceilings, HVAC units and kitchen space,” Scarbro said. “It’s basically a brand new hotel.”
The exterior of the hotel has also been redone. There is new landscaping and new parking.
In other news…
- Charlotte, NC-Native Krispy Kreme has selected 10 markets to try its new Original Glazed soft serve ice cream. Greenville is one of them. The donut company will offer seven flavored milkshakes after the donuts and three flavors of soft serve in cups or waffle cones.
- Modern cabin rental company Go away announced that the Upstate is one of the next markets to get tiny cabins later this year. The South Carolina cabins will be located in Seneca near Lake Hartwell and will include air conditioning and heating, a bed, toilet, shower, kitchenette, fire pit and picnic table. The company has 19 locations offering cabins. It will add nine more by the end of 2022, bringing the total number of cabins to 1,000.
- Greenville-based property management company NHE added six more communities to its portfolio, gaining an additional 700 homes. The company added Brookwood Commons and Chestnut Pond in Simpsonville, Pendleton Plantation in Easley, Creekstone Townes in Travelers Rest, Pinecrest in Hollingsworth Park in Greenville, and Trailside in Drayton Mills in Spartanburg. NHE manages more than 18,000 homes, apartments and condominiums in 15 Southeast states.
- The United Community Bank Foundation in partnership with habitat for humanity affiliates across its five states to support the cost of local construction and provide bank team members with the opportunity to volunteer. The partnership will begin in Wake County, North Carolina on July 1 and in Atlanta on July 23. Further construction is planned for South Carolina, Tennessee and Florida later this fall for seven homes in total by 2022. In South Carolina, the foundation plans to partner with the Greenville and Central branches of the Non-profit organization.
- Based in Charlotte SunCap Real Estate Group opened a 284,400 square foot industrial facility within Spartanburg Hillside Industrial Park. The project is called Hillside 290 and will include 62 dock doors, 315 parking spaces and 59 trailer park spaces, according to a press release. Hillside 290 is located on 30 acres in the Hillside Industrial Park on Highway 290.
It’s all for this week. Send your thoughts, advice, releases and updates to [email protected]
Follow Stephanie Mirah on Twitter @stephaniemirah