PROPERTY DESCRIPTION
The 132-unit Westbury Mews Apartment community was constructed in 1988 and is located at 1425 Old Trolley Road in Summerville, SC.  The property has a clubhouse/leasing office and 12 two and three story buildings.  The amenity package includes an outdoor swimming pool, laundry facility and fitness center.  There are one-, two- and three-bedroom units with an average size of 900 square feet plus a porch or balcony. All apartments have heat, a refrigerator, dishwasher, and garbage disposal.  Selected apartments have fireplaces, screened patio, outside storage, vaulted ceilings and washer/dryer connections.

LOCATION
The City of Summerville is a small city located 25 miles northwest of Charleston in Dorchester County on the border of Berkeley and Charleston Counties. Summerville is a charming town known for its antique and specialty shops as well as its local restaurants.  It is listed on the National Register of Historic Places.  The neighborhood surrounding Westbury Mews is a mix of residential and retail properties. Old Trolley Road is a collector road leading to both I-26 and Dorchester Road.  Both these routes provide direct access to the Charleston Airport and downtown Charleston.

GOALS
It is the Partnership’s goal, over the holding period, to increase the net operating income of the property by offering the tenants an attractive environment in which to live.  The Partnership believes the property can produce attractive operating cash flow and be sold at a gain.

The General Partner will determine when the property will be sold and will continually evaluate an appropriate sales strategy.  The timing of the sale will depend upon the condition of and prospects for the multi-family real estate market, value of the property, need for property repairs and due date of the loans.  It is anticipated a sale will occur between years five and ten.

To learn more about Westbury Mews Apartments, visit their listing on apartments.com.