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Shandon Crossing

Shandon Crossing is DBC Real Estate Management’s first acquisition in the Columbia, South Carolina market and was closed in early 2015 along with the acquisition by DBC of two other large apartment properties in Spartanburg.  The acquisition of these three properties, totaling almost 400 units, was able to be completed less than 6 months after the Upstate region of South Carolina had been targeted for new acquisitions by DBC Real Estate Management.

Shandon Crossing Apartments is a 152-unit garden apartment property located just to the south of downtown Columbia, and less than 10 minutes from the University of South Carolina.  The property is located close to the southern interstate beltway around Columbia, Fort Jackson (a large military base and employer), and regional retail and services. 

DBC Real Estate Management negotiated this “off market” acquisition with a regional owner who had purchased the property in distressed condition and had already completed extensive renovations and capital improvements, along with imposing a strong management program to restore occupancy and rental rates.  As a result of the exceptional physical condition of the property as well as the very strong occupancy, by sourcing various lending sources DBC was able to obtain very favorable financing with Fannie Mae.

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