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PassiveInvesting.com Spends $78M for Diverse Mix of Rental Communities in Little River
PassiveInvesting.com, a private equity real estate investment firm based in Columbia, SC, has acquired two rental communities located in the Myrtle Beach submarket of Little River, SC for $78.4 million:
- The Banks at Bridgewater, a 252 unit multifamily
- Stepping Stone at Bridgewater, a 44-unit boutique build-to-rent community
Tai Cohen, John Phoenix, and Louis Smart of Cushman & Wakefield represented the seller, Wakefield Residential, in its sale to PassiveInvesting.com.
“This mix appeals to the full spectrum of renter profiles in the fast-growing Myrtle Beach market,” said Smart.
The Banks at Bridgewater was developed by Craig Davis Properties in 2022 and is a Class A garden multifamily with coffee bar, on-demand yoga, saltwater pool, walking trails and units featuring built-in workspaces.
Stepping Stone at Bridgewater, a Wakefield Residential BTR community built in 2020, is located directly adjacent to The Banks at Bridgewater and consists of all two bedroom/two bath duplexes with attached.
Photo, t-b: The Banks at Bridgewater, Stepping Stone at Bridgewater
- ◦Sale/Acquisition
