CHARLESTON, S.C., Aug. 6, 2024
/PRNewswire/ -- A joint venture between Blaze Capital Partners
("Blaze") and Partners Group, one of the largest firms in the
global private markets industry, acting on behalf of its clients,
is pleased to announce the acquisition of The Aspens Verdae, a
159-unit active adult community located in Greenville, South Carolina.
"The acquisition of The Aspens Verdae represents our commitment
to both growing our active adult portfolio and deepening our
strategic presence in the Greenville market," said Chris Riley, cofounder and managing partner of
Blaze. "The 55+ housing segment stands to benefit from exceptional
fundamentals as Baby Boomers continue to seek more attractive forms
of housing that offer a compelling alternative to traditional
homeownership."
The Aspens Verdae is a luxury active adult community built in
2022 within the Verdae Master Plan, conveniently located just
fifteen minutes from downtown Greenville and providing residents with access
to a wide array of activities, restaurants, and shopping. The
property is adjacent to the Preserve at Verdae Golf Club and a
short distance from Swamp Rabbit Trail, a 28-mile multi-use
greenway that follows the Reedy River.
The Aspens Verdae provides residents with comprehensive
programming ranging from fitness classes to group activities, as
well as a variety of social events and gatherings. The property
offers several leading amenities, including an outdoor heated pool,
fitness center and yoga studio, art room, movie theater, and
resident lounges. Units span a variety of one- and two-bedroom
floorplans and feature luxury vinyl plank flooring, granite
countertops, stainless steel appliances, walk-in showers, and full
size washers and dryers.
"Our acquisition activity has increased over recent months as we
have begun to find more compelling investment opportunities that
align well with our focus of generating attractive returns to our
investors by delivering exceptional living experiences to our
residents," added Eddy O'Brien,
co-founder and managing partner of Blaze. "We have been and will
continue to be one of the most active buyers in the active adult
segment building off our experience and long-history in the
space."
"Greenville's strong
demographics and notable supply constraints align with our thematic
investing approach around differentiated opportunities for
accessing demographic shifts occurring in the U.S.," said
Eric Shepsman, Managing Director,
Real Estate Americas, at Partners Group. "Blaze's expertise in the
active adult space and investment approach aligns with our view on
driving additional value through transformational business plans.
Blaze has been an excellent partner to work with and we look
forward to executing our business plan."
Blaze has continued to grow its rental housing portfolio
significantly throughout the Sun Belt with a focus across the
multifamily, built-to-rent single family, and active adult housing
segments. This acquisition follows the Company's most recent
acquisition of Lector 85, a midrise multifamily community in
Tampa, FL. Blaze expects to deploy
further capital opportunistically throughout the remainder of the
year, with an active pipeline of investments that aligns with its
long-term strategic focus of identifying attractive
risk-adjusted investment opportunities throughout the Southeast and
Texas across its various lines of
business.
About Blaze Capital Partners
Blaze Capital Partners is
a rental housing investment management firm driven by a simple but
unusual mission: Creating homes for how people live and how they
want to live. With a human-first approach fueled by demographic and
psychographic research, Blaze owns and operates exceptional
communities in high-growth markets throughout the Sun Belt.
Headquartered in Charleston, South
Carolina, Blaze invests capital on behalf of a variety of
institutional partners ranging from pension fund, endowment, and
family office partners and offers a full suite of investment
management and development services. With a current portfolio
across the Southeast, Blaze has transacted on approximately
$2.5 billion in gross asset value
since 2016. To learn more about Blaze,
visit www.blazecapitalpartners.com.
About Partners Group
Partners Group is one of the
largest firms in the global private markets industry, with around
1,800 professionals and approximately USD
150 billion in assets under management. The firm has
investment programs and custom mandates spanning private equity,
private credit, infrastructure, real estate, and royalties. With
its heritage in Switzerland and
its primary presence in the Americas in Colorado, Partners Group is built differently
from the rest of the industry. The firm leverages its
differentiated culture and its operationally oriented approach to
identify attractive investment themes and to build businesses and
assets into market leaders. For more information, please
visit www.partnersgroup.com or follow us
on LinkedIn.
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SOURCE Blaze Capital Partners, LLC