Greystone Affordable Development, Greystone Housing Impact Investors LP and Cushman & Wakefield created a dream team outcome in a challenging market on four recent affordable housing acquisition and rehabilitation development transactions in South Carolina totaling $118 million. Working with a variety of multifamily investment sales advisors at Cushman & Wakefield, with which Greystone has a strategic joint venture, the teams collaborated on the acquisition and mortgage revenue bond (MRB) investments with two separate non-profit entities. Greystone Affordable Development, working with Opportunity South Carolina on three separate acquisitions as the developer of record, partnered with Rob Schultz of GHI to identify an acquisition financing solution via tax-exempt mortgage revenue bonds.

On a fourth, separate $31 million transaction with Greenville Housing Fund, Greystone's Adam Lipkin originated a financing solution via GHI, where Greystone Affordable Development will also serve as developer. Cushman & Wakefield's John Phoenix, Austin Green, and Ricky Gore represented the sellers of all four properties. The properties include: The Park at Sondrio in Greenville, SC, comprising 271 units and acquired for $38.1 million, and The Park at Vietti in Spartanburg, SC, comprising 204 units and acquired for $26.9 million.

Windsor Shores in Columbia, SC, comprising 176 units, acquired for $22.4 million. The Ivy in Greenville, SC, comprising 212 units, acquired for $30.5 million.