, /PRNewswire/ — Infinity Real Estate Partners has received an $18.75 million investment from American South Capital Partners (“ASCP”), a joint venture of SDS Capital Group and Vintage Realty Company, for the acquisition and renovation of a 1,068-unit affordable housing portfolio with assets located in North Carolina and South Carolina.
The portfolio consists of seven communities built between 1968 and 1973 ranging in size from 81 to 200 units, 95% of which are governed by the U.S. Department of Housing and Urban Development Housing Assistance Program.
- Boulder Creek, Greenville, SC
- Crescent Hill Apartments, Spartanburg, SC
- Roosevelt Gardens, Orangeburg, SC
- Spring Grove Apartments, Taylors, SC
- Cedar Moor Apartments, Raleigh, NC
- Timber Ridge, Charlotte, NC
- Brentwood Crossing, High Point, NC
Approximately 25% of renters in each of these markets are severely rent burdened having to pay as much as 50% of their income on rent, according to the Harvard Joint Center for Housing Studies.
“Infinity …