Jan
13

Familiar face buys The Market Common in Myrtle Beach

By
– The Sun News

It is still unclear what changes may take place at The Market Common, but the new owners aren’t strangers to the property; the parent company of the buyer was also the parent company of the previous owner.

BEI-Beach LLC, which bought the property last week, is a subsidiary of Leucadia National Corp. LUK-MB1 LLC, which owned The Market Common property before it failed to make payments and JP Morgan Chase foreclosed on the property, also was a subsidiary of Leucadia. LUK-MB1 was run by McCaffery Interests Inc., but Leucadia was the financial partner.

BEI-Beach LLC paid $19,178,122 for the property, according to Horry County property records. A spokesman for JP Morgan Chase said the company does not comment on specific client relationships.

ARTICLE SHORTENED DUE TO LENGTH….

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