Memphis-based Fogelman Properties announced today the acquisition of Polos at Hudson Corner Apartments in Greenville, SC and Cambridge Square Apartments in Overland Park, KS.
Polos at Hudson Corner is a 292 unit community built in 1998 and offers one, two and three bedroom apartment homes, with rental rates ranging from $740 – $1,169 per month. The property benefits from a highly desirable residential location in Northeast Greenville, with strong surrounding corporate employers such as Michelin’s North America Headquarters and BMW’s largest Us manufacturing facility.
Cambridge Square is a 408 unit community built in 2001 and offers one, two and three bedroom apartment homes, with rental rates ranging from $935 – $1,525 per month. The property features a premier infill location in Overland Park adjacent to class A office and retail development, and locaed I close proximity to the 4.7m square foot Cerner Campus and $100m University of Kansas hospital.
Fogelman acquired Polos at Hudson Corner in a joint venture with Dallas-based Thackeray Partners and marks the 4th multi-family acquisition by the Fogelman/Thackeray partnership, while Cambridge Square was acquired in a joint venture with San Francisco-based Bridge Partners and marks the 3rd multi-family acquisition by the Fogelman/Bridge partnership. Commenting on the two recent acquisitions, Rick Fogelman said “We are extremely excited about both of these new communities as we were able to expand our presence Kansas and South Carolina by purchasing two quality assets in very strong locations surrounding by stable and growing corporate employers.
Additionally, comprehensive improvements we have planned at both properties should further cement each properties’ market position.”
Fogelman Management Group will manage the newly acquired properties. Founded in 1963 and headquarters in Memphis, TN, the firm presently manages 84 apartment communities totally more than 25,000 apartment homes throughout the Southeast, Southwest and Midwest. The company has more than 600 full time associates.