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G&E Realty Acquires S.C. Property for TIC Avenue

Published Wednesday, July 16, 2008

Grubb & Ellis Realty Investors has acquired Plantations at Haywood, a 562-unit Greenville, S.C., multifamily property, from Simpson Housing on behalf of tenant-in-common investors. The real estate investment subsidiary of Santa Ana, Calif.-based Grubb & Ellis did not disclose the acquisition price for the 662,000 sq. ft. property, or the number of TIC investors participating in the deal.  Financing for the acquisition was arranged by Wachovia Bank. Jeff Hanson, president and chief investment officer of Grubb & Ellis Realty Investors, notes, “The low vacancy rates among Greenville apartment communities, as well as ...

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