RK Properties, a sponsor of private placements and 1031 exchange offerings, has purchased Trailside Verdae, a newly developed 276-unit multifamily property in Greenville, South Carolina. The property will be offered to accredited 1031 exchange and straight capital investors as a Delaware statutory trust offering. The purchase price was not disclosed by the company.
Trailside Verdae, located within the Verdae master planned community, has an average unit size of nearly 1,100 square feet and includes eight carriage house units and 66 onsite garages. Property amenities include a saltwater pool, poolside area with flat screen TVs and BBQs, a fitness center with yoga studio, sports lounge with billiards and gaming table, and dog park and washing station, among others.
“Trailside Verdae is the second addition to our Greenville portfolio, and we’re excited to be expanding our presence in this burgeoning Sun Belt market that offers a robust, diversified economy and strong opportunity for growth,” said Daniel Swersky, director of sales and acquisitions of RK Properties.
RK Properties has a 45-plus year track record, dating back to 1976, in the multifamily market. To date, the company has purchased and managed more than $1.5 billion in assets across the country.