SPARTANBURG, S.C. — Berkadia has arranged the sale of Mayfair Lofts, a 107-unit apartment community located at 100 W. Cleveland St. in Spartanburg, a town in South Carolina’s Upstate region near Greenville. A developer based in Georgia sold the asset to an investment firm based in South Carolina for $10.6 million. The community is an adaptive reuse of Arcadia Mill No. 2, which was built in 1922. Renovated in 2008 and fully occupied at the time of sale, Mayfair Lofts comprises one- and two-bedroom units outfitted with 16- to 18-foot ceilings, floor-to-ceiling windows, stained concrete floors, exposed brick interiors and monochromatic appliances. Community amenities include a pool, fitness center, library, dog park, clubroom with a pool table, enclosed parking garage, grills and a fire pit. Included in the purchase is 50,000 square feet of developable commercial space. Jeremiah Jarmin and Mark Boyce of Berkadia represented both the buyer and seller in the transaction.
Built in 1922 and renovated in 2008, Mayfair Lofts is a 107-unit apartment community located at 100 W. Cleveland St. in Spartanburg, S.C.
Berkadia Brokers $10.6M Sale of Apartment Community Near Greenville
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