Aug
19

Bluffton’s The Lakes at Myrtle Park Apartments Sold

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lakes myrtle parkBlaze Partners has announced the acquisition of The Lakes at Myrtle Park, a 360-unit institutional, Class A multifamily community located in the greater Hilton Head area. Blaze acquired the community from an affiliate of Chartwell Holdings, LLC with the transaction closing on August 5, 2016.

Located in Bluffton, SC, a top retirement and vacation destination minutes outside of Hilton Head Island, the community is situated along Bluffton Parkway, a highly-trafficked thoroughfare with a recently-opened extension that provides one of only two direct access points to Hilton Head Island. The Company plans to strategically invest capital to improve the property for resident enjoyment through the upgrade of select units and community amenities. The transaction represents the Company’s first acquisition since the two founding principles launched the Company in May 2016.

“The Lakes at Myrtle Park represents a phenomenal opportunity to establish our footprint in the Southeast and own the highest-quality asset in the market,” explained Chris Riley, co-founder and Managing Partner. “We are thrilled that we were able to identify and consummate a transaction of this nature within three months of launching Blaze Partners, and we look forward to continuing to actively build a portfolio of Class A, institutional multifamily assets.”

Categories : Bluffton

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