Blaze Capital Partners and Partners Group Acquire 159-Unit Active Adult Community in Greenville, SC.

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Aug 06, 2024, 14:09 ET

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.

SOURCE Blaze Capital Partners, LLC