Fogelman Properties, one of the country’s largest, privately-owned and fully integrated multifamily investment and property management companies, is pleased to announce the acquisition of Walden Oaks, a 240-unit apartment community in Anderson, South Carolina.
Built in 2007, Walden Oaks is 97 percent occupied and offers one, two and three-bedroom apartment homes with rental rates starting from $1,179. The property will undergo renovations to all interior units as well as enhancements to the fitness center, clubhouse and pool area. Additional features include large open floor plans, nine-foot ceilings and walk-in closets.
“Anderson, South Carolina is the top ranked submarket in the Greenville MSA for rent growth,” says Mike Aiken, SVP of Investments at Fogelman. “We are excited to make another investment in the Upstate region and add Walden Oaks to our expanding portfolio with Thackeray.”
Fogelman acquired Walden Oaks through a joint venture with the Dallas-based company, Thackeray Partners. The closing marks the 14thacquisition for the Fogelman-Thackeray partnership, now totaling more than 2,700 units.