TIC investors sell South Carolina asset

Community features impressive parking ratio

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Tenant-in-common investors recently sold Caledon Wood Apartments in Greenville, S.C., for an undisclosed price after nearly two years of ownership. Caledon Wood, a 350-unit multifamily community, is situated on more than 24 landscaped acres. The approximately 348,000-square-foot property includes 15 two-story residential buildings, with two additional buildings that house the community's clubhouse and fitness facility. Apartment sizes average 995 square feet. Community amenities at the property, which was completed in 1996, include outdoor grills, tennis courts and two swimming pools. Caledon Wood provides a parking ratio of two spaces per unit. At the time of sale to Steven D. Bell & Co., the property was 93 percent occupied and had been owned by the investors since January 2006. *** What's your opinion? Send your Letter to the Editor to opinion@inman.com. ...