Rincon Partners, LLC (“Rincon”) is pleased to announce the acquisition of NEXTLoft Apartments (the “Property”) in Bluffton, SC on May 21, 2021, for $18.15 million. The Property is a 148-unit, Class B+, multi-family community constructed as an extended stay hotel in 2000 and fully renovated and converted to an apartment community in 2018. The Property primarily consists of studio apartments with modern finishes such as new cabinets, stainless steel appliances, and granite countertops.
Located between Savannah, GA and Hilton Head, SC, Bluffton is one of South Carolina’s fastest-growing counties with 18% growth since 2010.
Rincon is headquartered in Phoenix, AZ with an acquisition office in Atlanta, GA and targets opportunistic and value add multifamily and self-storage commercial real estate in the Southwestern and Southeastern United States.
For further information on new acquisitions and joint venture opportunities, please contact Brian McGlynn, Chief Investment Officer, in our Phoenix, AZ office at (480) 378-2959.
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