Clemson Ridge acquired by New Jersey outfit

Lexerd Capital Management, a New Jersey-based sponsor of private equity funds, announces the acquisition of Clemson Ridge.  Near Seneca, Clemson Ridge consists of a 120-unit garden style community of 10, three-story apartment buildings.  Currently, Clemson Ridge is managed by First Communities Management.  Terms of the deal were not disclosed.  Albert Lord III, Lexerd CEO, said, “We are very excited to add Clemson to our portfolio.  Located in the fastest growing region of South Carolina, with strong rental market fundamentals and employment levels higher than the state average, we expect Clemson to thrive as a result of recent capital improvements and follow the Upstate rental growth momentum….”