West Shore buys two multifamily properties

West Shore has acquired two multifamily communities in the Carolinas: Plantation at Pleasant Ridge in Greensboro, North Carolina and Town Center at Lake Carolina in Columbia, South Carolina.

West Shore has acquired two multifamily communities in the Carolinas: Plantation at Pleasant Ridge in Greensboro, North Carolina and Town Center at Lake Carolina in Columbia, South Carolina. No financial terms were disclosed.

PRESS RELEASE

BOSTON, Mass., May 26, 2020 – West Shore LLC, a fully integrated, multifamily real estate investment firm, has acquired two Class A multifamily communities in the Carolinas in as many weeks. With the addition of Plantation at Pleasant Ridge in Greensboro, North Carolina, and Town Center at Lake Carolina in Columbia, South Carolina, West Shore now owns and manages seven properties across the Carolinas.

In the past 12 months, West Shore has acquired four properties in North and South Carolina. The company’s expanding national portfolio now includes 26 residential properties with 8,111 apartment units and well over $1 billion in assets under management.

“These properties are in proximity to several other properties that West Shore owns in the Carolinas, situating us well for future expansion in the market,” said Steven P. Rosenthal, Chairman of West Shore. “We are very optimistic about the prospect of continued growth in the Carolinas and our portfolio is well positioned to benefit from that growth.”

Plantation at Pleasant Ridge (www.pleasantridgeplantation.com), located at 1198 Pleasant Ridge Road in Greensboro, North Carolina, offers 288 apartment homes ranging in size from one to three bedrooms. The community has four unique floor plans complete with modern kitchens and high-end finishes such as granite countertops, stainless steel appliances, spacious oversized closets, and private balconies. Extensive community amenities include a zero-entry swimming pool, outdoor cabanas, a fire pit, a state-of-the-art 24-hour fitness center, and a clubhouse containing a billiards room and game room. Pleasant Ridge is conveniently located minutes from Piedmont Triad International Airport, Highway 68 and I-40, and near downtown Greensboro. Town Center at Lake Carolina (www.towncenteratlakecarolina.com), located at 20 Helton Drive in Columbia, South Carolina, is comprised of 260 one to three-bedroom luxury apartment homes. The property features generous clubhouse space, a resort-style pool, a fitness center with yoga studio, a playground, parks and green space, and miles of walking trails. The apartment units are designed with exclusive interior features including open floor plans, high ceilings, and chef-inspired kitchens. The property is located near Lake Carolina with easy access to I-77 and I-20, and a short drive from the University of South Carolina, BlueCross Blue Shield of South Carolina, Fort Jackson, and Prisma Health.

“The Plantation at Pleasant Ridge and Town Center at Lake Carolina are both terrific properties and very valuable additions to West Shore’s portfolio,” said West Shore President Lee Rosenthal. “We look forward to much continued growth in this region for West Shore.”

In addition to The Plantation at Pleasant Ridge and Town Center at Lake Carolina, West Shore’s other multifamily properties in the Carolinas include: Ansley Falls and Aurea Station in Charlotte, NC, Arcadia’s Edge in Columbia, SC, Reserve at Mill Landing in Lexington, SC, and Riverwalk Apartments in Rock Hill, SC.

ABOUT WEST SHORE LLC
West Shore LLC is a fully integrated real estate investment firm with a specific focus on the acquisition and management of multifamily assets. It is a dynamic, fast-growing company that blends an entrepreneurial approach to real estate with institutional investment discipline. Its principals are experienced management and real estate private equity executives. Boston-based West Shore was founded in 2016 and owns and operates a diverse portfolio of 26 multifamily properties in seven states, totaling 8,111 units with a total market value of more than $1 billion. For more information about West Shore LLC, visit the company’s website at www.west-shore.com