TRADE STREET ACQUIRES CLASS A APARTMENT COMMUNITY FOR $42M

GREENVILLE, S.C. — Trade Street Residential has acquired The Aventine Greenville, a new 346-unit, Class A apartment community in Greenville for $42 million, or $121,000 per unit. The community is located at 97 Market Point Drive, adjacent to the Millennium Campus, a 500-acre master-planned corporate and research park. The Aventine Greenville’s amenity package includes a WiFi café, fitness center, pet park, business center, resort-style pool, pool pavilion with TVs and built-in grills. The community was 76 percent occupied at the time of sale. Trade Street obtained a $21 million mortgage to help fund the acquisition.