Management group sells Cherrydale property for $39M.

PositionMonument Capital Management, Greenville, South Carolina

Monument Capital Management, an A-Rod Corp. company and a fully integrated real estate investment firm, sold Park West Apartments in Greenville for $39 million.

Monument was represented by Tai Cohen with Cushman Wakefield in the transaction, according to a news release, while the buyer represented itself.

Originally purchased in 2016, Park West Apartments is on a 20-acre parcel, and is comprised of 359 units featuring 305 one- and two- bedroom garden style residences and 54 two-bedroom townhomes. Located at 357 Hillandale Road, the property is near the Cherrydale Point shopping district.

Monument Capital Management completed upgrades to Park West's unit interiors, amenities, and common areas shortly after acquiring the property.

"Park West was an ideal acquisition which realized a significant IRR for our investors," Erin Knight, president of Monument Capital Management, said in the release. "Our overall improvements to the property made it a...

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