Aldon Purchases Waterleaf at Keys Crossing in Greenville, South Carolina for $52.2 Million
Transaction is one of two acquisitions that kick off strategy to expand geographic footprint.
Bethesda, MD. (July 21, 2021) —Aldon, a premier owner, manager and developer of multifamily assets based just outside Washington, D.C., acquired Waterleaf at Keys Crossing, a luxury apartment community in Greenville, South Carolina. As part of the transaction, Aldon changed the name of the property to Aldon at Keys Crossing.
Completed in 2020 and now stabilized, Aldon at Keys Crossing is a 241-unit apartment community located at 7001 Cinelli Street, less than 15 minutes southeast of downtown Greenville and close to major employers around the I-85/I-385 Gateway interchange.
“We are super excited to enter an incredibly strong and emerging market that is often overlooked,” said Todd Bowen, chief executive officer of Aldon. “The fact that our property was able to open and stabilize during the pandemic is testament to the market’s strength and can’t wait to introduce our high-quality lifestyle to this growing community.”
Aldon at Keys Crossing offers modern one-, two-, and three-bedroom apartment homes and carriage houses featuring open concept kitchens with custom white cabinetry, granite countertops and stainless-steel appliances, with select units offering large chef’s islands and kitchen pantries. All homes include wood-style flooring, 9-foot ceilings with ceiling fans and an in-home washer and dryer. Some units offer vaulted 12-foot ceilings with pool and mountain views.
Outdoor amenities include a resort-style, saltwater pool with tanning shelf, a poolside kitchen with grilling stations, an outdoor cabana with a fireplace and a dog park with a washing station. The community also offers a 24-hour fitness center with a yoga and cycling studio, a cybercafé, private and shared workspaces with a conference room, package lockers with refrigerated units and a bicycle storage area. Aldon at Keys Crossing also offer a special fourth-floor Sky Lounge with social and gaming areas as well as outdoor seating/dining with spectacular views.
Greenville has experienced a dramatic transformation of the last decade driven by the arrival of major manufacturers such as Michelin and BMW to the region attracted to a business-friendly environment, quality workforce and its convenient location between Charlotte and Atlanta. Today, Greenville is one of the most desirable places to lives in the southeast. A recent report called Greenville “Zoom Town” as more than 3,000 remote workers have recently moved to the city to take advantage of its affordability, nice weather, and access to outdoor activities.
After more than 70 years in the Washington, DC market, Aldon kicked off a strategy to expand the geographic footprint from its home market. In addition to this acquisition, the company announced the $93 million purchase of The Piedmont in Raleigh, North Carolina. Aldon will continue to explore opportunities in strong economic markets in the mid-Atlantic, the southeast and Texas.
About Aldon
Aldon has been creating better places to call home since 1947. Based just outside of Washington, DC in Bethesda, Maryland, Aldon develops, owns, and manages properties from the mid-Atlantic, to the southeast, and Texas. Grounded in a firm commitment to exceptional service, Aldon seizes every opportunity to evolve the concept of modern apartment living while enriching the lives of every resident and bringing value to the surrounding community.
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