Broad Creek Capital and Springer Capital recently expanded their joint portfolio of multifamily assets with the acquisitions of the Square at Forest Acres in Columbia, S.C., and Tanglewood Apartments in Memphis, Tenn. The total purchase price was $16.5 million, and the two properties together consist of 364 units.
The acquisitions are the most recent investments in Broad Creek Capital's Enhanced Income Strategy, which seeks to provide tax-efficient high yield investment income via the acquisition and repositioning of underperforming multifamily properties throughout the United States.
The portfolio currently totals more than 530 units of multifamily real estate.
Matthew Ruesch, co-founder and managing partner of Broad Creek Capital, stated, "Square and Tanglewood are ideal investments for our Enhanced Income Strategy. U.S. multifamily real estate remains one of the most attractive asset classes for yield and long-term capital appreciation, and the Southeast regi
