South Carolina Rental Property Changes Hands

Brick Lane and Enterprise Community Investment have acquired The Grove at St. Andrews, a 622-unit apartment community in Columbia, S.C. The buyers received $28.3 million in acquisition financing through Freddie Mac for the asset, which was previously owned by Asia Capital Real Estate.

Built in phases from 1977 to 1984, the property is located at 716 Zimalcrest Drive about 6 miles from downtown. The community, which is nearly 93 percent occupied, spans 35 buildings on a 36-acre lot and features a mix of studio, one- and two-bedroom units. Amenities include a fitness center, clubhouse, tennis court, playground, two swimming pools and seven laundry facilities.