Peakline Real Estate Funds Initiates Multifamily Development in Greenville, SC

New Multifamily Development in Greenville, SC



Peakline Real Estate Funds (PREF) has taken a significant step in urban development by announcing its latest investment in a multifamily project named Markley + Main, situated in the West End Historic District of downtown Greenville, South Carolina. This project represents a strategic addition to their growing portfolio, which has successfully raised $1.2 billion across three Qualified Opportunity Zone (QOZ) funds since 2018.

The Markley + Main development, envisioned as a six-story residential complex, will encompass a total of 277 apartment units, with a net rentable area of approximately 258,763 square feet. Designed in collaboration with SunCap Property Group, this residential complex aims to cater to a diverse tenant demographic by offering a wide range of unit types, including one, two, and three-bedroom apartments.

Enhancing Local Communities



PREF's QOZ program focuses on channeling private investment toward vibrant and growing communities. This initiative is poised to not only raise long-term capital gains for investors but also significantly contribute to the local economy by creating jobs and stimulating commercial activity. In the last few years, PREF has successfully partnered with developers to amplify community growth in targeted areas identified by the QOZ legislation.

Mike Miller, Co-Founder and President of Peakline Real Estate Funds, expressed pride in the accomplishments thus far, stating: “Peakline has developed one of the most active and impactful QOZ investment programs in the country.” This commitment to fostering community development is underscored by the firm’s portfolio, which includes over 5.2 million square feet of multifamily, retail, and office projects, boasting a gross market value of approximately $3.5 billion.

Project Features and Community Impact



The amenities set for Markley + Main are designed to meet the needs of modern renters, featuring a resort-style pool, a clubhouse, co-working spaces, a rooftop lounge with stadium views, a fitness center, a pet spa, a game room, and even a golf simulator. This thoughtful blend of recreational and practical features illustrates a commitment to enhancing the living experience of tenants.

Moreover, the site itself provides a highly walkable environment with easy access to local retail outlets, dining experiences, entertainment venues, and major employers. Flour Field, home of the Greenville Drive, alongside the scenic Falls Park and the Peace Center, are just a few attractions located nearby. Markley + Main is also conveniently positioned for easy commuting to significant corporate campuses, including those of BMW, Michelin North America, Lockheed Martin, and GE Power.

Timeline and Future Outlook



Construction on Markley + Main is expected to commence shortly, with goals for completion and the start of initial occupancies by 2027. This ambitious timeline reflects shared enthusiasm among stakeholders and an ongoing commitment to delivering substantial residential accommodations in dynamic areas.

Bill Palmer, Managing Director at SunCap Property Group, commented on the partnership, stating, “SunCap is looking forward to this collaboration with Peakline. They truly understand the vision we are working towards with Markley + Main – bringing a residential development to life that matches the spirit of the vibrant Downtown Greenville community.”

About the Developers



With over 28 million square feet of commercial development realized, SunCap Property Group has established a strong presence in the Greenville-Spartanburg market by focusing on innovative design and long-term value creation. Meanwhile, Peakline Real Estate Funds maintains a robust portfolio across various property types including residential housing, industrial sites, and office spaces, amounting to a total valuation exceeding $5 billion across 17 million square feet in critical growth markets across the U.S. Their strategic focus on institutional-quality real estate positions them as leaders in the field of private real estate investment.

For additional details about Peakline Real Estate Funds, visit their official website.

Topics General Business)

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