Sold August 2017
Summer Chase Apartment Homes is a 168-unit garden-style apartment community located Little River, South Carolina, on the north end of the Grand Strand of the Myrtle Beach MSA. The Grand Strand is a 60-mile arc of uninterrupted coastline that attracts over 14 million visitors each year and is known worldwide as a tourist destination for golf and beach-related activities. The Little River MSA is projected to reach a population of 320,000 by 2017 and ranked in the top ten of the fastest-growing metro areas in 2012.
Summer Chase was developed in 2000 and consisted of 168 one and two-bedroom apartment homes averaging 960 square feet. Amenities include a clubhouse, swimming pool, 24-hr fitness center, grilling areas, playground, and access gates. Unit features include washer/dryer connections, custom cabinetry, microwave ovens, ceiling fans, and walk-in closets.
ApexOne Growth and Income Fund I purchased Summer Chase and will hold long-term capture growth and appreciation.