Wakefield Residential Announces Sale
Of Two SC Properties
Wakefield Residential has sold two multifamily developments totaling 296 units in the Myrtle Beach, S.C. area which includes a 44-unit boutique build-to-rent community.
The communities –The Banks at Bridgewater, a 252-unit multifamily property and Stepping Stone at Bridgewater, the BTR development–are located in the Little River submarket and are situated off Highway 17 and Highway 9 within the larger Bridgewater residential masterplan. They have easy beach access and proximity to top retail, entertainment, healthcare offerings and employment centers.
Of the sale, the purchaser said, “the two properties offer an ideal investment size and mix of both traditional multifamily and BTR unit styles which appeals to the full spectrum of renter profiles in the hot Myrtle Beach market.
Myrtle Beach is one of the nation’s fastest-growing cities, with 22 percent population growth since 2015.
The Banks at Bridgewater was developed by Craig Davis Properties in 2022. The Class A garden-style multifamily property offers luxury finishes and a modern amenity package including a coffee bar, on-demand yoga, saltwater pool, walking trails and built-in workspaces in the units. Stepping Stone at Bridgewater is a Wakefield Residential BTR community built in 2020. The property features spacious two-bedroom/two-bath duplexes with attached garages in a neighborhood cul-de-sac setting.