Rincon Partners, LLC (“Rincon”) is pleased to announce the sale of Commons at Fort Mill (the “Property”) on June 23, 2021 for $25.7 million. Rincon acquired the 144-unit, class B+, property located in Fort Mill, SC in May 2019 for $19.3 million.
Rincon completed a renovation program that included the clubhouse, fitness center, and pool area, and a select number of the unit interiors to capitalize on the Property’s strong multifamily rental market.
The Property is located within the York County submarket of the Charlotte MSA, which is one of the nation’s top submarkets for job growth and home to one of the top school districts in the MSA. The Property is easily accessible to Interstate 77 a major North/South corridor connecting Charlotte, NC and Columbia, SC.
Rincon is headquartered in Phoenix, AZ with an acquisition office in Atlanta, and targets opportunistic and value add multi-family and self-storage commercial real estate in the Southwest and Southeast United States.
For further information on new acquisitions and joint venture opportunities, please contact Brian McGlynn, Chief Investment Officer, in our Phoenix, AZ office at (480) 378-2959.