Timberland Partners Investments, a Minneapolis-based real estate investment company, announced on September 21 that it had acquired Oak Ridge in Pelham in Greenville.
The 252-unit apartment community is the company’s fifth apartment building that Timberland Partners purchased in 2021 and its first in South Carolina.
âOak Ridge in Pelham fits naturally into our portfolio of apartment communities and our overall investment strategy,â said Aaron Spiegle, Acquisitions Specialist at Timberland Partners. âWe are very pleased to extend our resident-focused property management to the State of South Carolina. We look forward to seeing this opportunity benefit our residents and investors in the years to come. “
The apartment community is located on 26 acres and includes one and two bedroom units in two story buildings.
Each apartment includes:
- Fully equipped kitchens
- Washer and dryer connections
- Dressing rooms
- Overhead lighting in bedrooms and living room
- Private balconies or patios
In addition, some units have cathedral ceilings and wood-burning fireplaces.
Timberland Partners has a capital improvement plan for further upgrades to apartments and amenities.
The company also owns and manages a portfolio of 85 communities in 17 states for a total of more than 18,500 apartments.