MACC Venture Partners has acquired North Myrtle Beach, South Carolina-based Summer Chase Apartments, a 168-unit garden apartment community. No financial terms were disclosed for the deal that was done in partnership with Legacy Capital Partners.
SANTA BARBARA, Calif.–(BUSINESS WIRE)–Thanks in part to market data supplied by Yardi Matrix, MACC Venture Partners of Gastonia, N.C. recently announced its most recent acquisition of Summer Chase Apartments, a 168-unit garden apartment community built in 2001 in North Myrtle Beach, South Carolina. The deal was completed in partnership with Legacy Capital Partners.
With more than 4,000 units of owned multifamily housing in its portfolio, MACC Venture Partners is on a mission to more than double in size, according to managing partners Tony and John Azar. MACC Venture Partners focuses on communities with value-add potential after moderate renovations are completed. To identify the best deals to augment its portfolio, MACC Venture Partners relies on Yardi Matrix, the most complete data and information service for real estate professionals.
“We use Yardi Matrix to do our rent comps, sales comps and market analysis. It was very relevant to the Summer Chase acquisition transaction because the North Myrtle Beach area had less data than Myrtle Beach. This was a situation where Yardi gave us good data not just about the major market, but the submarket as well,” said John Azar.
“MACC Venture Partners chose Yardi Matrix as their source of dependable real estate data because the product offered the most complete information for the most reasonable price point,” said John Azar. Yardi Matrix includes data on the multifamily, office, vacant land and self storage sectors, meeting the needs of most real estate investment firms.
“We congratulate MACC Venture Partners on its latest acquisition,” said Jeff Adler, vice president of Yardi Matrix. “Our clients rely on Yardi Matrix to complete the due diligence process and identify the best possible transactions as their real estate portfolios expand.”
Watch a video about how Yardi Matrix has been beneficial for MACC Venture Partners.
About MACC Venture Partners
MACC Venture Partners is a private equity owner operator of commercial real estate set to pursue capital preservation and appreciation, as well as high returns and yields through a strategic acquisition process. The firm acquires and operates stabilized assets in high growth markets and continuously manages for capital appreciation. As a vertically integrated and value-add firm, MACC VP manages all aspects of operation relating to its investments and is continuously seeking to expand its portfolio. For more information on MACC Venture Partners please visit maccvp.com.
Yardi® develops and supports industry-leading investment and property management software for all types and sizes of real estate companies. Established in 1984, Yardi is based in Santa Barbara, Calif., and serves clients worldwide. For more information on how Yardi is Energized for Tomorrow, visit yardi.com.