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The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 224-unit Gleneagle apartment community located in Columbia, SC. This asset is situated in the capital city of South Carolina boasting strong submarket fundamentals including 15% projected rent growth and 13% average household income growth through 2025. Having changed between multiple management companies, current management operations are sound and trending in the right direction. Built in 1973, Gleneagle represents an outstanding opportunity to invest in a property that comes to market with a proven value-add plan set in-place by current ownership leaving 164 units (73%) to be renovated and command premiums of $125.
Under Contract
224 Units
601 St. Andrews Road
Columbia, SC  29210
Type: Conventional
Posted: 8/27/2020
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of The Lively at Market Common, a 299-unit timeless community offering its residents best-in-class living space and amenities located in Myrtle Beach. As the newest community in Market Common, The Lively at Market Common is situated in one of the most sought-after locations, with immediate access to the Atlantic Ocean and Myrtle Beach’s most upper echelon lifestyle district. The property offers new ownership the opportunity to purchase a core asset well below replacement cost in a market with dwindling supply compared to a population surge rivaling other coastal cities. Along with outsized population growth comes a job market that is expected to outpace new deliveries by 26:1 in 2021 and 2022, priming the Myrtle Beach market for 10% rent growth through 2024. Myrtle Beach is also a post-pandemic destination, seen as an alternative living option for residents of large US cities with dense infrastructures. With these phenomenal fundamentals and an attractive average move-in rate, the property is poised to capitalize on a lengthy Class-A rent runway $125+ above current rents.
Under LOI
The Lively at Market Common
299 Units
1231 Hadley Circle
Myrtle Beach, SC  29577
Posted: 9/9/2020