Park Ridge Tranche VIII

About Park Ridge Tranche VIII

The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of Park Ridge, a 122-unit Build-to-Rent townhome community in Myrtle Beach, SC on a forward sale transaction. The property is strategically located in the nation’s fastest growing city, boasting 32% population growth since 2011. Situated in the market’s primary recreation node, Park Ridge offers unbeatable access to the area’s top retail and entertainment, including the 162-acre North Myrtle Beach Sports Complex and the east coast’s largest wake park next-door. Myrtle Beach’s rapidly expanding millennial and boomer demographic bases highlight the submarket’s unique ability to support unprecedented growth within the Build-to-Rent space, as skyrocketing home-ownership costs and limited supply continue to price prospective home-buyers out of the market. Delivering in 2023, the Class-A community will feature best-in-class finishes and amenities, appealing to the area’s established tenant base who desire the conveniences of single-family living without the burdens and increasing financing costs of ownership. Market comparables and submarket projections outline the property’s vast rent potential (almost $2,400 at first CO), and highlight incoming ownership’s opportunity to acquire a differentiated, high-quality asset at an extremely attractive basis.