HILTON HEAD, SC - ACRE, a global real estate private equity firm, announced it has broken ground on Pepper Hall Multifamily, a high-end 331-unit multifamily property in Bluffton-Hilton Head, South Carolina. The project is being developed in partnership with Charleston, SC-based Southeast Partners. With construction underway, Pepper Hall is scheduled to officially open in Spring 2024.
Located 11 miles west of Hilton Head Island within a newly developed, mixed-use master-planned community, Pepper Hall will feature a mix of one- and two-bedroom residences, with an average size of 938 square feet. Unit interiors will feature best-in-class finishes and smart-home technology. Residents of Pepper Hall will have access to a full suite of high-quality amenities including a clubhouse, resort-style pool, fitness center, yoga studio with Fitness-on-Demand, and pocket parks adjacent to each building.
“ACRE remains focused on identifying unique multifamily and single-family development opportunities in high-growth coastal markets in the Southeast,” said Bret Hewett, Vice President of Acquisitions for ACRE. “We’re very excited to partner with an accomplished firm in Southeast Partners to bring our vision for this development to life, and we're thrilled to expand our footprint to an under-supplied submarket situated in a region that continues to see healthy economic growth and exceptionally strong demand for affordable high-quality apartments.”
Pepper Hall is located less than 20 miles northeast of Savannah, Georgia, in one of the Southeast’s fastest growing regions. Since 2000, the market has seen its population increase by approximately 55 percent, as residents continue to relocate to the area due to its attractive lifestyle, access to various outdoor amenities including the Atlantic Coast, and low cost-of-living.
Through a series of equity and debt funds, ACRE manages more than $3.2 billion in assets across private real estate investments and loans. The firm specializes in value-add, multifamily opportunities and invests in workforce and affordable housing assets in strategic growth markets. ACRE’s unique approach to managing its diverse portfolio of multifamily properties includes an intentional focus on creating added value for residents that extends beyond the four walls of their homes. By establishing a sense of community among residents through socially impactful investments and sustainable green measures, ACRE effectively improves tenant retention and generates stable, cash-flowing properties.