JEDA Bonds to Finance $70 Million Purchase of Greer Apartment Community
Greer, SC — Spartanburg County
The South Carolina Jobs-Economic Development Authority (JEDA) has issued $69,875,000 in Economic Development Revenue Bonds for the acquisition of Victor Park Apartments in Spartanburg County.
SFRI-Sixteenth Floor Obligated Group (SFRI) will use the tax-exempt bonds to finance the acquisition of the 318-unit multifamily apartment community at 1000 Village Mill Drive in Greer.
SFRI Victor Park offers studio to three-bedroom units ranging from 478 to 1,200 square feet and employs five people.
“Acquiring Victor Park Apartments advances our commitment to preserving and improving quality housing and creating long-term stability for residents. We look forward to investing in this growing community and ensuring it remains a place where individuals and families can thrive.”
Gerald Cichon, CEO of the Housing Authority of the City of El Paso.
“We’re pleased to help structure financing that supports the acquisition of an established apartment community while promoting continued investment in affordable housing through tax-exempt bonds,” said Jeremy Cook, Bond Counsel at Haynsworth Sinkler Boyd, P.A., in Charleston.
“Strong housing options are essential to South Carolina’s continued growth, and JEDA is proud to once again support financing that helps preserve an existing residential community while encouraging investment in Spartanburg County, one of the Palmetto State’s most dynamic markets,” said Jesse A. Smith, Executive Director of JEDA in Columbia.
