Private Investors Snap Up 15 Carolinas Properties

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.