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Case Studies

Myrtle Beach, SC

Alta Surf

Investment Summary

Property

216 unit multifamily property located in an emerging section of the Myrtle Beach market

Strategy

- Given the age and the condition of the property, there are no major capital requirements needed or planned - The property is considered “best in class” in its market, and ownership anticipated continued positive rent growth. The project continues to perform well with occupancy at 96%

Opportunity/Highlights

  • Alta Surf Apartments, 216 units in Myrtle Beach, SC, was acquired in December 2012
  • The asset is very well-located in the highly desirable Carolina Forest area of Myrtle Beach
  • The project was built in 2007, has very high quality, luxury finishes throughout the community and offers a first class amenity package. The acquisition price was well below replacement cost

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