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Bent Oak Apartments

DBC Real Estate acquired Bent Oak Apartments early in 2016, making it the firm’s sixth acquisition in South Carolina in less than one year, and rounding out its Upstate apartment footprint at over 500 units. Bent Oak Apartments is located only a short drive from the eastern side of Spartanburg where DBC Real Estate already owns a large apartment complex and will add to the operational economies of scale already being experienced by DBC Real Estate with its Upstate portfolio.

Bent Oak is a 120-unit property located at the intersection of Interstate 85 and Pelham Road on the immediate outskirts of Greenville, South Carolina.  Pelham Road is the major suburban retail, office park and apartment corridor on the growing eastern side of Greenville, as it continues to expand towards Greer.  The BMW manufacturing facility and Inland Port are located only a few miles from the property, only two exits away off Interstate 85 and a drive time of only minutes.  Michellin’s corporate and research centers are on an immediately adjacent campus property and the Greenville-Spartanburg Airport is only minutes away.  The property is surrounded by all new retail and hotel development, a long-established golf course and country club and new hotel development to serve the corporate demand. 

Bent Oak was acquired from a regional owner that maintained the property to high standards to compete with the newer properties in the immediate market area.  The acquisition terms for the property and its exceptional location enable DBC Real Estate to compete well as to rental rates with higher priced properties that may offer newer amenities for those residents looking for a more affordable housing option in this rapidly growing and competitive area.  The property is surrounded by higher-grade residential areas and housing stock, and new higher-end development continues. 

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