#United States #Corten Real Estate #Fulton Peak #Arbors at Fairview #Simpsonville

Corten Real Estate's New Venture in Simpsonville

Corten Real Estate has recently announced an important joint venture aimed at enhancing the landscape of attainable housing through a common equity investment of approximately $9.3 million. This significant transaction, finalized on August 27, 2025, focuses on the acquisition and repositioning of the Arbors at Fairview Apartments, a garden-style community comprising 168 units located in Simpsonville, South Carolina.

The strategic acquisition underscores Corten's ongoing commitment to addressing the growing need for attainable housing options. By purchasing the property at a discount compared to its previous sale, Corten has not only made a financially sound decision but also positioned itself to impact the community positively. This investment is part of a larger portfolio managed by Corten Real Estate Fund II LP (CREF II), which marks its 15th and final investment under this vehicle.

Partnership with Fulton Peak Capital

Corten partnered with Fulton Peak Capital to facilitate this acquisition, leveraging their expertise in multifamily properties. Fulton Peak is known for its vertically integrated approach, focusing on the acquisition, repositioning, and operation of rental housing primarily within the Mid-Atlantic and Southeast regions. Notably, their construction arm, Westridge Construction, along with their property management subsidiary, Fulton Peak Management, will aid in undertaking capital improvements and operational enhancements at the Arbors at Fairview.

Focus on Attainable Housing

The initiative surrounding Arbors at Fairview is particularly important as it aligns with Corten’s mission to create accessible housing solutions in high-demand markets. This project will benefit from a 100% property tax abatement during the holding period, contingent on maintaining a portion of the rents under the Area Median Income (AMI) restrictions. This aspect of the investment not only makes the housing more accessible but also promotes economic stability within the local community.

Matt Kattler, Principal at Corten, emphasized the importance of this investment by stating, "Our investment in Arbors at Fairview exemplifies Corten's commitment to identifying compelling opportunities that deliver both strong financial returns and meaningful community impact." He noted that through strategic acquisitions such as this, the company aims to implement a robust value-add strategy, which includes operational efficiencies and tax benefits designed to improve living standards in growing urban locations like Greenville.

Market Potential in Greenville

Simpsonville, a submarket of the larger Greenville metropolitan area, is experiencing significant economic growth, making it a prime location for investment. The demand for affordable rental housing in such high-growth markets is evident, and Corten's strategic investment in properties like Arbors at Fairview is a proactive step toward meeting this demand. With 10 multifamily and five hospitality investments across various U.S. markets, Corten is well-positioned to capitalize on this trend.

Conclusion

Corten Real Estate’s recent investment in the Arbors at Fairview Apartments not only adds substantial value to its portfolio but also plays a crucial role in supporting the community’s housing needs. As the firm continues to seek out properties that deliver both strong financial outcomes and enhance community welfare, initiatives like this are vital to fostering sustainable development. Corten’s approach illustrates a blend of business acumen and heartfelt dedication to social responsibility, marking them as a leader in the field of real estate investment.

For more information about Corten's real estate strategy and their ongoing projects, please visit their official page.