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Bent Tree Apartments

After acquiring a 152-unit property in Columbia, South Carolina in early 2015, DBC Real Estate sought to supplement the size of the Columbia portfolio.  In November of that same year DBC Real Estate acquired Bent Tree Apartments, a 232-unit B+ property located in the northeast section of Columbia close to the major intersection of Interstates 26 and 20.  This location allows for quick access to all areas of suburban Columbia, as well as the downtown CBD.  This acquisition increased DBC Real Estate’s apartment footprint to almost 400 units in Columbia.

The property is surrounded by new office parks accessed from the I-26 north-south corridor as well as other larger apartment complexes.  The property was acquired from a large institutional investment firm that maintained the property extremely well, and includes a new well-appointed clubhouse with a coffee bar, fitness center, business center, and large management offices.  The entire pool area and sun deck have been improved with architectural hardscape.  High quality tennis courts with hard-tru surfaces round out the amenities which make the property competitive with newer Class A properties. 

In looking to expand its Columbia footprint, DBC Real Estate considered Bent Tree Apartments by far the best Class B property in the market area and its competitive set.  DBC was successful in acquiring Bent Tree Apartments on favorable purchase terms, complemented by very favorable financing terms through Fannie Mae.  Operating results since acquisition have improved over the results previously realized by the institutional seller.

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