The Columbia Portfolio is a four property, 672-unit garden-style apartment portfolio located in Columbia, SC, the state’s capital and second largest city. As the state capital, Columbia benefits from a diversified economy anchored by the South Carolina state government, as well as major healthcare employers including Prisma Health and BlueCross BlueShield. Additionally, Columbia is home to Fort Jackson, the largest basic Army training facility in the country and staple of the Columbia economy for 100+ years, as well as the University of South Carolina, the largest university in the state. On the property-level, the portfolio has historically maintained relatively steady occupancy in the low-90% range but has been mismanaged and suffers from high levels of deferred maintenance. Please see below for a brief overview of each asset: 

Austin Woods – 240 units located in southeast Columbia, roughly 15 minutes from downtown
Harbour Landing – 200 units located in southeast Columbia, roughly 15 minutes from downtown
Mallard Pointe – 120 units located in southeast Columbia, roughly 15 minutes from downtown
Ravenwood Hills – 112 units located in northeast Columbia, roughly 10 minutes from downtown

The business plan includes a value-add capital improvements program, including deferred maintenance repairs and substantial interior upgrades as units turn to increase rents over the life of the hold period. Through its targeted business plan and active management practices, substantial value is anticipated to be created by boosting net operating income via rent bumps over time and operating expense efficiencies via its in-house management expertise.