MYRTLE BEACH, S.C. — Cushman & Wakefield has arranged the $78.4 million sale of two adjacent multifamily communities in Myrtle Beach’s Little River submarket. The assets include The Banks at Bridgewater, a new 252-unit multifamily community, and Stepping Stone at Bridgewater, a 44-unit build-to-rent community. Tai Cohen, John Phoenix and Louis Smart of Cushman & Wakefield represented the seller, Wakefield Residential, in the transaction. PassiveInvesting.com, a private equity real estate investment firm based in the Carolinas, was the buyer.
Craig Davis Properties developed Banks at Bridgewater earlier this year. The property’s amenities include a coffee bar, on-demand yoga, saltwater pool, walking trails and units featuring built-in workspaces. Built in 2020, Stepping Stone at Bridgewater comprises two-bedroom/two-bath duplexes with attached garages in a neighborhood, cul-de-sac-style setting.