Sunscapes Apartments

Jones Lang LaSalle, a South Carolina licensed real estate broker (“JLL”), has been retained as the exclusive sales representative for Sunscapes Apartments, the “Property”, or the “Asset”. This 324-unit garden-style community is in South Myrtle Beach, an area with minimal development activity-only one other property currently under-construction. Sunscapes offers convenient access to Myrtle Beach’s major employers, retail destinations, and entertainment hubs. Completed in 2023, the Property features premium amenities including pickleball courts and a resort-style pool, along with class A interior finishes.

This investment opportunity presents substantial rent growth potential in the third fastest growing MSA in the country, as current rental rates for one and two-bedroom units are approximately eight percent below the most comparable property. New ownership can immediately implement a mark-to-market strategy without additional capital investment, potentially increasing one and two-bedroom rents by $120.

The MSA is in high demand for rental housing due to the major population growth it has been experiencing over the last five years. Given the dearth of future supply including just one asset under construction within 7-miles of Sunscapes, the property is primed to capitalize on significant rental growth for years to come.