Mar
25

Taylors Apartment Complex Sold for $89,000/Unit

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Chimneys Exterior 1Norfolk, Va.-based Cohen Investment Group has purchased The Chimneys of Greenville from Chicago-based Highgate Capital Group for $14.95 million.

The Chimneys of Greenville is a 168-unit apartment community in Taylors. Jordan McCarley, Tai Cohen and Watson Bryant of Cushman & Wakefield represented the seller in the transaction, according to a news release.

“The Chimneys of Greenville transaction is a great example of our company buying value-add multifamily real estate below replacement cost,” said Hugh D. Cohen, president of Cohen Investment Group, in the release. “Adding this property to our growing portfolio is exciting on various levels including our entrance into the Greenville market. Each acquisition that we do possesses its own individual business plan, and we plan on capitalizing on ours quickly.”

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