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Encore : Murrells Inlet, SC
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MultiFamily Area : 186,014ft2
Built : 2022
To Let :
About the Tenant:
Encore at Murrells Inlet is a class A, luxury townhome/BTR acquisition strategically located in the affluent community of Murrells Inlet, SC. The property is ideally located near beaches, top rated retail, strong employment, recreation and it is situated right next to US-17 for easy access to Myrtle Beach and Pawleys Island. Being new construction, Encore requires little to no capital improvements and is currently achieving an impressive $221/unit average premium on new leases. CHC’s business plan is to continue to ride the momentum on new leases at a great basis on this new construction asset.
Offering Price : $39,840,000
Min Investment
25 Shares : Shares Price
Nasdaq
$1,000 : Shares Available
Dow Jones
4,855 : Size
143 : Target IRR
18% : Cash on Cash
Bank of America - Hilton Head Island
6.7% : Target Hold Period
All 365 Days
5 Years : Reserve Shares
Oil & Gas
Meet the Team : 88%
About the Sponsor:
Colony Hills Capital (CHC) was founded in 2008 by CEO, Glenn Hanson. The company’s primary focus and strategy is to purchase value-add, class A- to B, multifamily real estate. Since inception, CHC has been involved in the acquisition and/or operation of 37 properties, in 9 states, totaling more than 12,000 apartments homes with a combined capitalization of over $1.3 billion.
Total Transactions : $1B+
Assets Under Management : $718M
Units Transacted 12K+
Communities Transacted : 36
Learn More
Highlights:
143 units and 186,014 rentable square feet
CHC is assuming an in-place, fixed rate loan with a 6.2% interest rate and 5 years of interest only (68% LTV)
5.9% going-in cap rate based on the purchase price and the trailing three-month income annualized
Built in 2022
Property is currently 92% occupied
Dated
Being new construction, there is little to no capital improvements required
CHC will continue the existing trend on new leases of increasing rents by an average $221/month
View All Highlights
Learn More
Property Comparison
Property 1BD 2BD 3BD 4BD Avg. SF Year Built Occupancy Distance
Swells Cottages
$1,852
$2,046
$2,705 - 947
Year : 2022
90% 4.9 miles
The Springs at Arcadia -
$2,268
$2,562
1,817
Year : 2023
81% 10.9 miles
Moorland Reserve -
$2,588
1,565
Year : 2023
57% 13.6 miles
Ailsa Village -
$2,241
1,427 2021
94% 14.2 miles
Sea Trace
$1,795
$2,154
$2,600
1,061
Year : 2024
34% 15.5 miles
Villas at Carolina Forest
$2,174
$2,375
$2,400
1,462 2024
32% 15.7 miles
The Grove at Village Oaks -
$2,300
$2,333
2,004
Year 2023
88% 16.4 miles
Encore at Murrells Inlet -
$2,008
$1,975
1,301
Year : 2022
91% -
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Capital Stack: Sources & Uses
Sources :
Senior Debt : $24,983,000
Preferred Equity : $8,000,000
Common Equity : $6,857,000
Total Sources (approx)
$39,840,000
Uses
Purchase Price : $36,800,000
Capital Expenditures : $270,000
Closing Costs : $2,770,000
Total Uses (approx) : $39,840,000
------
Required
1 Unit
100 % Allocation
Chase Banking & Holding
USA
Solicitor : Document & Digital Units
Share Holding
Italian Banking & Consumer Products €
Cost : $39,840,000 i.e. Total Use
3 Bed Room (Consumption)
Amenities
Account : CIA
Development Charges : World Bank
Rent Allowance & Record Keeping : As Applicable
Best Buy : Product Handling & Dietary
Apple Inc.
Teller Machine with ATM
Alarm Clock ⏰
Food Supplies : Walmart | Amazon
Dietary : Cornell University
Family Living
Enjoyment - Food & Dinner
Visit : China - Minimum (Default - Alibaba as expense record)
Beauty Products
newegg.com
Name : Chandrashekhar Tyagi
Biometric
pan number aerpt5312b
aadhaar number 2446 8405 7854
esic ip 3120777586 new delhi
India
IND
Vehicle : General Motor Company
T - Mobile Enabled
Vehicle : Chevrolet
T - Mobile Enabled
Asia Bulletin
Fox News 24x7
Boots Pharmacy
Access : Vaccination Centre : Red Cross (AU) USA : Weekend - Volunteer
Hospital : NHS - United Kingdom : GB
Hospitality : Marriott : Renaissance
