Real estate investment firm buys 234-unit apartments in Greenville

A real estate investment firm has acquired The Haywood, a 234-unit workforce housing property situated in Greenville.

Buyer Comunidad Partners is a vertically integrated real estate investment firm that specializes in workforce and attainable housing communities in diverse neighborhoods throughout the Sunbelt, the company said in a news release.

The latest multifamily addition to the firm’s South Carolina portfolio is part of Comunidad’s mission to provide workforce and attainable housing for residents in high-demand markets and deliver risk-adjusted returns for impact investors, according to Antonio Marquez, principal and managing partner at Comunidad Partners.

“Greenville is a growing metro with strong fundamentals, and there is a vital need for attainable housing that can serve essential workers and support the local economy,” Marquez said in the release. “We are excited to add this community to our Sunbelt portfolio, which will allow us to implement our unique, value-add strategy and provide quality housing for local residents.”

Ty Barnes, head of investments at Comunidad Partners, says that Greenville is a supply-constrained market that is poised for significant rent growth, noting good schools and robust population growth.

“Over the last few years, South Carolina has outpaced job growth at the national level,” Barnes said in the release. “Given that Greenville is one of the largest metros in the state, home to top employers such as BMW and GE Power, this is a prime location that can benefit from a Sunbelt-focused workforce housing owner and operator like Comunidad. Although living in South Carolina is more affordable compared to other states, homeownership for moderate-income earners living in Greenville, including teachers, nurses and skilled trades workers, is still unattainable for much of the population. This has created a shortage of workforce housing in the area, causing significant pressure on essential workers and contributing to longer commute times overall.”

The firm plans to allocate “significant” capital to enhance the resident experience at The Haywood as part of its value-add investment strategy, the release stated. Slated renovations include interior unit upgrades, improved curb appeal and family-friendly amenities. Additionally, Comunidad is planning to work closely with local and national nonprofit partners to create beneficial resident services and maintain regulatory compliance at the portfolio level, according to the release.

This aligns with the firm’s social impact efforts to create a community benefit and a positive impact on resident well-being, the company says. In 2024, Comunidad reported a 92% needs-resolution rate across its portfolio’s community programs, highlighting the strength of meeting residents’ needs through customized programming.

“Through our experienced ownership and management teams, we will implement specific renovations and programs that best serve residents in the community and align with our mission to enrich lives while generating returns for our investors,” Keaton Graham, director of impact at Comunidad, said in the release. “Our strategies have created a positive impact on residents’ lives across our portfolio and delivered strong investment returns simultaneously. By improving the overall property NOI, we can continue to invest in resident programming and help increase resident household income, decrease household cost burdens, and improve resident household wealth/equity — leading to long-term value and stability. We are the example that preserving attainable housing and providing compelling returns for our investors is possible.”

The property is located at 100 Gloucester Ferry Road in Greenville.