Clemson Lofts
Clemson, SC
Acquisition: January 2021
YOC: 2015
Units: 252
Beds: 641
Asset Type: Garden/Townhome
Distance to Campus: 1.2 Miles
Strategy: Value-Add
Disposition: September 2023
Pre-Renovation
Clemson Lofts was originally owned by an out-of-state merchant developer in need of a disposition to recycle capital. The institutional equity pause in late 2020 halted the transaction of the asset, creating an opportunity for our team to purchase the asset at a discount to the original price.
Post-Renovation
A combination of school growth and implementation of a downtown development ordinance limiting large student developments put a new premium on any major student property within walking distance. Because this was the second major clubhouse renovation completed during the pandemic, steps were taken to use domestic manufacturers and order items early when possible.
