Trio Joins Forces to Purchase $49M North Myrtle Beach Apartments

CWCapital Asset Management and co-sponsors Advantage Properties and Cove Property Management have created a partnership to acquire River Oaks Village apartment community in North Myrtle Beach, SC for $48.5 million. The co-sponsors will assume management of the 190-unit, Class A property.

The 2019-constructed River Oaks Village includes single-story cottage-style units with large floor plans and connecting one- or two-car garages, offerings that are unique to neighboring communities. It is situated in Little River, 25 miles north of downtown Myrtle Beach.

“The Myrtle Beach community has evolved from a favored vacation destination to a long-term living locale and has experienced rapid population growth in recent years driven by retirees desiring warmer weather and convenient access to recreation and leisure,” said Regina Lubin, chief investment officer, CWCapital. “As the area continues to attract new residents seeking high-quality housing, River Oaks Village presents an opportunity to acquire a well-maintained and well-located community positioned for rent growth.”