TSB Realty has been engaged by ownership to sell Columbia Lofts, a 170-unit, 330-bed pedestrian student housing property located adjacent to campus at the University of South Carolina in Columbia, SC. Formerly the Richland Cotton Mill, Columbia Lofts now serves as a student housing property offering a mix of one through four-bedroom units filled with charm and character.

The property was originally built in 1895, converted into loft apartments in 1984, and renovated in 2012. Columbia Lofts is 98% occupied for AY 24-25 and 100% preleased for AY 25-26 at rates that represent 4.6% YOY rent growth.

USC continues to experience strong and consistent growth, with enrollment increasing by over 5% between Fall 2023 and Fall 2024, adding more than 1,900 students. This upward trend is further reinforced by nearly 9% enrollment growth since Fall 2021 and 14% over the last decade. Since 2020, USC has seen a remarkable 15% increase in out-of-state enrollment while maintaining a steady international student population representing over 150 countries. USC reached a record-high enrollment of 38,503 students for AY 24-25 and boasts 13% YOY application growth.

Columbia Lofts offers a prime value-add opportunity through targeted light renovations, enhancing its unique, historic appeal and unlocking higher rent potential. Featuring spacious one through four-bedroom lofts with unique layouts, and modern finishes, strategic upgrades such as refreshed cabinetry, updated flooring, and enhanced lighting can further elevate the resident experience and drive rent growth. With existing desirable amenities, including a resort-style swimming pool, high-speed internet access, and an unbeatable location near campus, light enhancements position the asset for increased NOI and strong investor returns.

For more information about Columbia Lofts, visit its Real Capital Markets listing or the contact the TSB Realty team directly.