South Carolina landlord Blaze Capital Partners purchased the 149-unit Hardy Springs active-adult community in Dallas, marking the firm’s first acquisition in the 55-plus sector. 

The purchase brings Blaze’s Georgia portfolio to six properties with more than 860 residences. 

“The market for active adult housing has grown significantly over the past decade as the baby boomer generation continues to age,” Blaze cofounder and managing partner Eddy O’Brien said in a news release. “As one of the largest demographics in the U.S., the 55-plus crowd is hitting key life events, such as retirement and becoming empty nesters who have a desire to downsize their living space. Blaze’s bullish active-adult strategy seeks to meet the needs of these residents and deliver a move-in ready, maintenance-free lifestyle in Class A communities.” 

Hardy Springs is a garden-style community of 53 buildings on 31 acres. It was completed in May, and the interiors of the one- and two-bedroom units feature vinyl plank-wood flooring, granite countertops, stainless-steel appliances and front and rear porches with exterior lighting. 

Community amenities include a personal training studio, pickleball and bocce‐ball courts, a fishing pond with dock, fitness center, outdoor barbeque area, clubroom, walking trail with benches and a dog park. 

“We root our investment strategies in long-term demographic and fundamental trends, looking ahead to see what’s next on the multifamily horizon,” Blaze cofounder and managing partner Chris Riley said. “Since 2011, only 290 active adult units have been delivered within a 3‐mile radius of Hardy Springs. The community will fill a growing gap in the 55-plus multifamily market and in the Paulding County submarket, and we are excited to begin investing in the sector.” 

The post S.C. firm acquires first 55-plus community with Dallas purchase  appeared first on Atlanta Agent Magazine.