102-unit apartment complex sold in Spartanburg for over $4M

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NAI Earle Furman’s Multifamily Division announced the sale of Valley Creek Apartments, a 102-unit apartment complex, in Spartanburg, South Carolina.

The Class C+ property, built in 1973, sold for about $4.10, traded at a 7.9 cap rate and was 100% occupied at the time of sale, according to a news release.

The building was sold by Upstate Property Rentals LLC.The buyer was Two Bridges Asset Management out of Brooklyn, New York.

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