Pendleton, S.C. — CBRE has arranged the sale of The Villages at Town Creek, a 244-bed student housing community located near Clemson University in Pendleton.
Built in 2010, the property offers 61 townhome-style units in three-, four- and five-bedroom configurations. Shared amenities include a resort-style swimming pool, study lounge, coffee bar, fire pit, hammock garden, sand volleyball court and a car wash station.
Jaclyn Fitts, William Vonderfecht, Casey Schaefer, David Lansbury and Erika Maston of CBRE arranged the sale on behalf of QR Capital. The buyer was undisclosed. “The Villages at Town Creek offered an attractive going-in yield for investors at one of the nation’s strongest Power 5 student housing markets,” says Schaefer.
“Exhibiting a long history of stable performance, the property also provided a fully entitled development opportunity for additional units. The units are some of the largest and most unique townhome floorplans in the market, differentiating the asset from its competitive set.”