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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