Greenville University has announced its purchase of the Greenville Commons apartment complex, located on Beaumont Avenue.
GU President Dr. Ivan Filby told WGEL the school looks at the purchase as a strategic investment. He said the revenue generated through rental fees is more than the note the university would have to take out for the purchase. Filby said the purchase fits into the college’s long-term strategic plan to find alternative revenue streams.
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Filby said the university has no plans for Greenville Commons other than to continue to operate it as it currently is. He said GU will continue to work with local people to manage and maintain the property.
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Greenville Commons is managed by Wayne and Myra Mollett of Seven Oaks Realty in Greenville.
Dr. Filby said he understands Greenville University was the only local entity interested in purchasing Greenville Commons and university officials saw keeping the property under local ownership as an additional positive.
For additional information about Greenville University, visit Greenville.edu.