MACC VP closes a new acquisition in Rock Hill SC

MACC Venture Partners through a partnership with The JAR Group LLC. closes sale of Carolina Crossing Apartments located in Rock Hill, South Carolina.

(February 9th, 2016) – MACC Venture Partners, a Charlotte NC area based firm specializing in private equity Real Estate and Multifamily investments, has closed the purchase of Carolina Crossing Apartments, a 267-unit class B Garden and Townhome apartment community. This property is located in outlying York County Rock Hill, South Carolina.

 John Azar, Executive Vice President of MACC Venture Partners, stated that his firm purchased Carolina Crossing Apartments from VCP Carolina Crossing LLC. and will implement both a capital improvement program as well as a management and marketing program to enhance the community, elevate the quality of the asset through MACC’s sister company, Capstone Multifamily Group to manage the property. “The acquisition of Carolina Crossing will add synergies to our portfolio with a great class B complex situated in an incredibly desirable market. With flexible floor plans, convenient location, and proximity to shopping and dining, we anticipate a great value-add to our portfolio” Mr. Azar said.

 Carolina Crossing Apartments are located in the only Charlotte submarket in South Carolina. Merely four miles from I-77, the complex offers large 1, 2 and 3 bedroom apartments. Carolina Crossing also includes valuable amenities including a pool, 2 playgrounds, and a fitness facility. Its convenient location provides residents easy access to downtown Rock Hill, Piedmont Medical Center, shopping and restaurants. York County exhibits strong apartment fundamentals that are healthier than their surrounding Charlotte submarkets peers.