RALEIGH, NC-A private investor group that includes Stratford Land and Myrtle Beach Development Group, has acquired 15 Coastal Carolina residential and commercial real estate assets in a joint venture deal. Terms of the all-cash deal were no disclosed.

In the Hilton Head area, the joint venture acquired Hilton Head Lakes, a fully entitled, 2700-acre master-planned development halfway between Savannah and Hilton Head, and Traditions, a 1,900-acre, fully entitled, master-planned development with a Tommy Fazio championship golf course in play.

In the Myrtle Beach area, the companies acquired Wild Wing Plantation, a 1,000-acre development with a 27-hole golf course community; Sandridge, a 1,600-acre undeveloped parcel of land bordering the Intracoastal Waterway in North Myrtle Beach; Grey Plantation Parcel, one of the last undeveloped parcels in the 8,000-acre master planned Carolina Forest development; and Windsor Plantation, a 300-lot development located seven minutes from the ocean with active home building underway.

“We handpicked these properties,” Ralph Teal, managing member of the joint venture, tells GlobeSt.com. “These are A locations and most of them are active to some degree. Some have builders in place who are taking down lots every week. They offer immediate cash flow and they will also be among the first properties to pick up as the markets get stronger.”