Published Nov. 30, 2012
Serrus Capital Partners, a Greenville-based real estate investment and management company, announced the acquisition of 89 properties in three markets across the Carolinas.
This acquisition includes 10 condominiums in The Summit at Pelham Springs in Greenville, 29 condominiums in Carolina Walk by Williams Bryce Stadium in Columbia and 50 units at the Residences at Biltmore in Asheville.
“It’s an exercise in supply and demand,” Serrus Capital Chairman Leighton Cubbage said in a news release. “Our access to and infusion of capital removes excess market supply, stabilizing and increasing asset values for all stakeholders over time.”
Founded in 2009, Serrus Capital Partners has purchased 242 properties, and sold off 42, including nine at Carolina Walk and three at The Summit at Pelham Falls.
Serrus Capital plans to release the remaining units acquired over the next four years, leveraging investor assets to reposition, market and sell the units at competitive market rates, according to a news release.
“Despite a sluggish economy, our team has built a portfolio that includes over 242 revenue generating assets, strengthening communities through capital commitments while leveraging investment insight to generate a strong bottom-line,” co-Founder Steve Mudge said in a news release.
Serrus Capital Partners manages residential real estate asset investment and management, while growing a strategic portfolio of properties.