Columbia, S.C. — MultiVersity Housing Partners (MVHP) has acquired The Orchard, a 308-bed student housing community located near the University of South Carolina’s Williams-Brice Stadium in Columbia.
The property consists of 84 cottage-style units offering three- and four-bedroom floor plans with bed-to-bath parity. Shared amenities include a swimming pool, clubhouse, fitness center, individual security systems and private parking. MVHP’s property management arm, MultiVersity Property Management, will oversee operations and planned renovations at the community.
“MultiVersity is excited to be back in the Columbia market with such an outstanding asset,” says Anthony Magnelli, principal of MVHP. “Orchard Columbia is the only cottage-style product within a mile from campus, setting it apart from the competition. Planned upgrades will further set Orchard apart from the competition, making it the premier choice for USC students.”
Pearlmark closed on a $4.6 million preferred equity investment for the acquisition, which was originated by Hunt Cos. Dan Kearns of JLL represented the buyer in the transaction.