MAULDIN AND SPARTANBURG, S.C. — The Terrace at Butler, a 132-unit Class B apartment complex located at 771 E. Butler Rd. in Mauldin, has traded for $8.4 million to a California-based investor seeking to expand an apartment portfolio into the Carolinas. Tony Bonitati, Kay Hill and Gwinna Cahal of Greenville, S.C.-based NAI Earle Furman represented the local seller.
The NAI Earle Furman team also represented the seller of the 89-unit Schuyler Apartments, located at 275 S. Church St. in downtown Spartanburg, which was sold to an Alabama-based buyer that plans to redevelop the building as part of a revitalization effort in downtown Spartanburg. The building, which was a lender-owned asset, was originally built in the 1950s and NAI Earle Furman worked with the City of Spartanburg in obtaining approvals to ensure redevelopment.