West Shore Acquires Class A Luxury Asset in South Carolina
BOSTON, MA, November 12, 2019 – West Shore, a fully integrated, multifamily real estate investment firm, today announced the acquisition of Arcadia’s Edge, a 204-unit luxury residential community in Columbia, South Carolina. The top-tier, Class A asset, which offers residents luxurious amenities in a serene and natural setting, is West Shore’s 25th acquisition nationwide and its fifth in the Carolinas.
Arcadia’s Edge is centrally located in the state capital of Columbia, one of the fastest growing metropolitan regions in the Southeast. Columbia was recently ranked among the Top Places to Live by U.S. News & World Report and is widely regarded as one the best cities for millennials, given its thriving economy.
According to West Shore Chairman Steven P. Rosenthal, Arcadia’s Edge is a perfect example of the caliber of multifamily asset the company seeks for its portfolio; superior residential properties located in thriving markets. “Arcadia’s Edge is a unique Class A property that offers residents the best of everything—ideal location, robust economy, solid job market and luxury living,” said Rosenthal. “This deal is demonstrative of our success and growth over the last three years as we continue to identify and acquire high quality, off market properties like Arcadia’s Edge, in high-growth areas like Columbia.”
Built in 2012, the 220,000 square foot, 13-acre private community is surrounded by trees and highlighted by preserved wetlands. It was the first community in South Carolina to be certified by the National Association of Home Builders as meeting the National Green Building Standard.
Arcadia’s Edge is one of the region’s premier luxury communities, offering residents spacious one, two, and three bedroom open-concept floor plans, designed for smart living and customized to meet their every need. Individual units feature granite countertops, sleek stainless steel appliances, designer wood cabinetry, spacious walk-in closets, ample storage space, nine foot ceilings and beautifully vaulted ceilings and private patios in select units. Communal amenities include a resort style saltwater swimming pool and sundeck; poolside grilling and dining; waterfront park and fire pit; outdoor resident lounge, complete with a fireplace and media center; scenic pond; wooded walking trail; community garden; state-of-the-art fitness center; and first class clubhouse, including a cyber café and coffee bar. The property also boasts several green amenities and features including Energy Star Frigidaire appliances, Low-E glass windows, low flow water fixtures, low VOC paints, Rinnai Value tank-less gas water heaters, a natural irrigation system and sustainable landscaping.
“We are thrilled to add Arcadia’s Edge to our portfolio,” said Lee Rosenthal, West Shore President. “We now own and operate 1,429 units in the Carolinas and we see tremendous opportunity for continued growth there. Arcadia’s Edge is a top-tier, well-built property in a solid market and we are especially pleased to be adding scale in the Columbia market.”
West Shore owns and manages four additional properties in the Carolinas: Ansley Falls in Charlotte, North Carolina; Aurea Station in Charlotte, North Carolina; Reserve at Mill Landing in Lexington, South Carolina; and Riverwalk in Rock Hill, South Carolina.
