Northmarq arranges sale, acquisition financing of 350-unit South Ridge apartments in Greenville, SC
Photo credit: ClearSky Photography
GREENVILLE, S.C. — Northmarq’s Carolinas Investment Sales team led by Andrea Howard, John Currin, Austin Jackson, Jeff Glenn and James Dorsett successfully led the sale of South Ridge, a 350-unit mid-rise multifamily community located at 823 S. Church St. in Greenville, South Carolina.
Northmarq represented the seller, Railfield Realty, in the transaction. The property was acquired by The Dinerstein Companies.
“TDC is excited to enter the Greenville market with the acquisition of South Ridge. Greenville’s strong growth fundamentals, coupled with the property’s exceptional downtown location and proximity to the transformative County Square redevelopment, make this a compelling investment opportunity,” said Christian Evans, Dinerstein Companies. “We see tremendous potential to build on the property’s strong performance through strategic renovations and amenity enhancements, while establishing a foundation for future investment opportunities in the market.”
“Downtown Greenville continues to attract significant public and private investment, reinforcing its position as one of the Southeast’s most compelling multifamily markets,” said Andrea Howard, Northmarq. “South Ridge’s location directly across from the transformative $1 billion County Square redevelopment, combined with its strong operating history and significant value-add potential, presented an attractive investment opportunity with multiple avenues for future growth.”
Northmarq’s Southeast Debt + Equity team, led by David Vinson, Faron Thompson and Grant Harris, arranged a three-year bridge loan on behalf of The Dinerstein Companies through AllianceBernstein.
Delivered in 2015, South Ridge consists of 350 apartment homes across six buildings situated on approximately 8.7 acres. The property also features 14,658 square feet of ground-floor retail occupied by Biscuit Head, Shred415, Mix Salon Studios and Strayer University.
South Ridge has demonstrated consistent operating performance, maintaining an average occupancy of 94% since 2023 while achieving 28% net operating income growth over the same period. With all 350 apartment homes retaining their original interior finishes, the property offers new ownership a comprehensive value-add opportunity through targeted interior renovations and amenity enhancements.
The community offers a mix of studio, one-, two- and three-bedroom residences, complemented by a saltwater swimming pool, fitness center, resident sky lounge, outdoor entertaining areas and structured parking.
Situated along South Church Street, South Ridge provides convenient access to Downtown Greenville’s restaurants, shopping and entertainment destinations, as well as Cleveland Park, Falls Park on the Reedy and the Swamp Rabbit Trail.
Meet our team
Northmarq is one of the largest privately held commercial real estate firms in the United States, combining a nationwide presence with deep local expertise. With more than 50 offices across the country, we provide a full suite of debt, equity, investment sales, loan servicing and fund management solutions for a comprehensive range of property types. Our unique structure allows us to connect clients with the best opportunities, yet be nimble enough to ensure access to every expert across our company. The firm manages a loan servicing portfolio of over $80 billion and has completed $91.3 billion in transactions over the past four years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide.
