GREER, SC– Privately held real estate firm, Companion Associates, Inc. headed up by its Founder and CEO Roger Jones, recently sold BRIDLE RIDGE (152-units) and ARLINGTON COURT APARTMENTS (14-units). This sale marks Companion’s fifth disposition in the last 18 months. The asset was a special asset to Companion Associates as Roger Jones says, “It was the first property I developed and took me three years to put the deal together”. Roger Jones is not just another developer; he has spent his life living, working, and building a company in South Carolina with the same values and integrity, he puts into each building he builds and manages. Bridle Ridge and Arlington Court apartments was no exception.
Companion at Bridle Ridge apartments is 152-units, housing families that make no more than 60% of the area median income. The community offers 1-, 2- and 3-bedroom units with wonderful amenities like, fully appliance units, large units, tile floors, Euro kitchens, playgrounds, swimming pool, fitness center, and a full onsite management staff. The property was fully occupied when sold and had a history of same. Arlington Court apartments is an affordable property with the similar restrictions but only 14-units.
The community is 85-miles west of Charlotte, NC. Situated between Greenville and Spartanburg and resides within both counties, although Companion at Bridle Ridge Apartments is within Greenville County. The property is just north of US-29, which doubles as an access point to the several entertainment, retail, food, and professional establishments that reside along it. Greer is also known for its focus on outdoor recreation and activities. Along with being named “South Carolina Parks and Recs Agency of the Year” twice since 2005, Greer has also seen its local little-league teams win their respective championship games several times since 2007. In addition to its thriving sports programs, Greer City Park was also completed in 2008 and is a 12-acre park just two miles south of the property.
In the last 18-months Companion Associates, Inc. has selected The LIHTC Group with offices in Chicago, Florida, and California to disposition a total of 5-properties. This transaction closed Thursday March 31, 2022, the broker’s involved with the transactions were Christopher R Scanlan, its President and Spencer Burd, Vice President who also located the buyer. The sales price was $17.3M. The Buyer was not disclosed.
About The LIHTC Group: The LIHTC Group is a national brokerage and consulting firm that works exclusively with multi-family assets in both the Affordable Housing and Market Rate sector. With offices in Illinois, Florida, and California, The LIHTC Group has far-reaching relationships with both local and national groups. These relationships include pension funds, private family offices, national REITS, and nonprofits, as well as small private investors and syndicators of both Affordable and Market Rate assets. The LIHTC Group uses a proven systematic approach to reaching out to the marketplace in order to maximize value on behalf of their clients — both buyers and sellers.