Popular on EntSun
- Music Maven Jonathan Tiras Grooves into NCMG as Head of A&R - 184
- North Coast Music Group Welcomes Restlezz to the Family - 135
- Breaking News - New Music Release - 124
- L.A.I. Communications Wins Prestigious Platinum MarCom Award for Excellence in Marketing and Communications - 114
- Ironside HR, No. 7 on the 2023 SMU D100 List
- Dawit Tsige Highly Anticipated Concert in Washington DC
- 14th Annual Zed Fest Film Festival 2023 Opens Nov 8, 2023 Regal Cinemas Noho West
- Welcome Our Newest Client Periodontist: Raymond L. Wright Jr. DDS, Bing + Google Searches List 'BEST' in San Clemente & South Orange County, CA
- Descendant of Sojourner Truth designs custom Space Coat !
- Announcing 2024 Book Discussion Series Selection & Celebrating Black-Owned Bookstores
Similar on EntSun
- Lumena, A New Luxury Oceanfront Condominium Takes Flight on Florida's Space Coast
- Lawmato relaunches its virtual consultation app with enhanced features
- MiBOXER Is Exhibiting At Hong Kong International Autumn Lighting Fair
- Beck Properties Group, eXp Realty Expands Service in Southeast Indiana
- Stonely Unleashes Innovative Platform for Homeowners: Design and Order Kitchen Countertops Online with Ease!
- Devart Is the Winner of 2023 New World Report Software and Technology Award
- Unveiling a Secluded Paradise: Beachfront Home on Dog Island, Carrabelle, Florida, Goes to Auction
- RacquetX Announces Miami Open Experience as Excitement Builds for Landmark 2024 Event
- Advcash adds instant Pix payments in Brazil
- Sip Social Co. Partners With Omnify To Streamline User Experience Across Growing Operations
Material Capital Partners Completes Exit of The Preserve at Sweetwater, Expands BFR Pipeline in the Southeast
EntSun News/11000000
CHARLESTON, S.C. - EntSun -- Material Capital Partners ("MCP"), a vertically integrated real estate development and investment management firm headquartered in Charleston, SC, is pleased to announce the acquisition of The Preserve at Sweetwater. The 89 home build-for-rent community development in North Augusta, SC was acquired by MCP's joint venture investment partner, a venture between MORE Residential ("MORE"), a Plano, TX-based rental housing owner and operator, and San Francisco-based investment firm, Stockbridge. The Preserve at Sweetwater will be rebranded under MORE's Covey Homes brand of single-family build-for-rent communities.
The Preserve at Sweetwater is a Class-A rental community offering residents upscale 2 and 3-bedroom cottages and townhomes with attached garages, and an array of amenities, including a premium fitness center, game lawn and oversized pet park. The community is located near the intersection of I-20 and I-520, just minutes from downtown Augusta, GA. The community was built by MCP's dedicated construction firm Winchester Commercial Group.
The Augusta metropolitan area has grown significantly over the past five years. The presence of major employers such as the US Army Cyber Command at Fort Gordon, Bridgestone, and Rolls-Royce are creating strong demand for rental housing.
"North Augusta is experiencing strong growth from renter demand," said Joel Presley, MCP Partner and Augusta resident for 30 years. "It has a well-deserved reputation for quality of life. Located between Aiken and Augusta, the city benefits from wonderful amenities and new jobs combined with low cost of living and low cost of housing."
More on EntSun News
The acquisition of The Preserve at Sweetwater is a significant milestone for MCP and its pipeline of build-for-rent projects under development throughout the Southeast.
"We are pleased to announce the acquisition of The Preserve at Sweetwater by MORE Residential and Stockbridge," said Alex Chalmers, Managing Partner of MCP. "This community is a great example of our ability to identify, develop and deliver high-quality build-for-rent communities in growing markets throughout the Southeast that are attractive to institutional buyers.
For more information about The Preserve at Sweetwater, Material Capital Partners, or any of MCP's other build-to-rent projects, please contact hello@materialcapitalpartners.com.
About Material Capital Partners
Material Capital Partners LLC ("MCP") is a real estate development and investment management firm based in Charleston, SC focused on purpose-built single-family build-for-rent communities throughout the Southeast. Our communities of single-family rental homes combine the welcoming feel of a desirable neighborhood with the flexibility and ease of maintenance-free living, premium Class-A amenities and experienced property management. For more information, visit www.materialcapitalpartners.com.
About MORE Residential
MORE Residential was formed by the senior management team behind the former publicly traded REIT, Monogram Residential, which created a residential portfolio exceeding $4.5 billion in total value that eventually sold to an institutional investor consortium in 2017. The MORE management team averages 30+ years of real estate industry experience and has extensive expertise working with institutional investors and development sponsors to invest capital through structures that maximize opportunities at various stages in the investment life cycle. MORE's focus is on residential rentals spanning lower-density single-family rental (SFR) and build-to-rent (BTR) communities to traditional high-density multifamily properties across U.S. markets. For more information, visit www.moreresidential.com.
More on EntSun News
About Stockbridge
Stockbridge is a real estate investment management firm led by seasoned senior professionals averaging 25+ years of real estate industry experience. The firm was founded in 2003 and manages real estate equity investments across the risk spectrum within a variety of investment structures on behalf of U.S. and foreign institutional investors. Stockbridge has approximately $33.8 billion of assets under management (as of June 30, 2023) across its two primary business lines, spanning all major real estate property types, and certain specialty property types, throughout the United States. The firm has offices in San Francisco, Atlanta and Chicago. For more information, visit www.stockbridge.com.
The Preserve at Sweetwater is a Class-A rental community offering residents upscale 2 and 3-bedroom cottages and townhomes with attached garages, and an array of amenities, including a premium fitness center, game lawn and oversized pet park. The community is located near the intersection of I-20 and I-520, just minutes from downtown Augusta, GA. The community was built by MCP's dedicated construction firm Winchester Commercial Group.
The Augusta metropolitan area has grown significantly over the past five years. The presence of major employers such as the US Army Cyber Command at Fort Gordon, Bridgestone, and Rolls-Royce are creating strong demand for rental housing.
"North Augusta is experiencing strong growth from renter demand," said Joel Presley, MCP Partner and Augusta resident for 30 years. "It has a well-deserved reputation for quality of life. Located between Aiken and Augusta, the city benefits from wonderful amenities and new jobs combined with low cost of living and low cost of housing."
More on EntSun News
- Dogs at the Dentist: How an unlikely partnership is helping treat dental anxiety
- SSV Network selects Randamu for Distributed Key Generation (DKG) Grant Award
- Lawmato relaunches its virtual consultation app with enhanced features
- MiBOXER Is Exhibiting At Hong Kong International Autumn Lighting Fair
- Beck Properties Group, eXp Realty Expands Service in Southeast Indiana
The acquisition of The Preserve at Sweetwater is a significant milestone for MCP and its pipeline of build-for-rent projects under development throughout the Southeast.
"We are pleased to announce the acquisition of The Preserve at Sweetwater by MORE Residential and Stockbridge," said Alex Chalmers, Managing Partner of MCP. "This community is a great example of our ability to identify, develop and deliver high-quality build-for-rent communities in growing markets throughout the Southeast that are attractive to institutional buyers.
For more information about The Preserve at Sweetwater, Material Capital Partners, or any of MCP's other build-to-rent projects, please contact hello@materialcapitalpartners.com.
About Material Capital Partners
Material Capital Partners LLC ("MCP") is a real estate development and investment management firm based in Charleston, SC focused on purpose-built single-family build-for-rent communities throughout the Southeast. Our communities of single-family rental homes combine the welcoming feel of a desirable neighborhood with the flexibility and ease of maintenance-free living, premium Class-A amenities and experienced property management. For more information, visit www.materialcapitalpartners.com.
About MORE Residential
MORE Residential was formed by the senior management team behind the former publicly traded REIT, Monogram Residential, which created a residential portfolio exceeding $4.5 billion in total value that eventually sold to an institutional investor consortium in 2017. The MORE management team averages 30+ years of real estate industry experience and has extensive expertise working with institutional investors and development sponsors to invest capital through structures that maximize opportunities at various stages in the investment life cycle. MORE's focus is on residential rentals spanning lower-density single-family rental (SFR) and build-to-rent (BTR) communities to traditional high-density multifamily properties across U.S. markets. For more information, visit www.moreresidential.com.
More on EntSun News
- Stonely Unleashes Innovative Platform for Homeowners: Design and Order Kitchen Countertops Online with Ease!
- SkyLites Drone Show for Pretty Lights
- Terminator, Star Trek Franchise Fans Get Big Boosts with Celebrity Additions at FAN EXPO New Orleans
- One Million Pages Read in the First Year !!
- Kingston NY-Based Ryan & Ryan Kicks Off its 65th Anniversary Dec. 6 by Underwriting a Chamber of Commerce Mixer Saluting RUPCO
About Stockbridge
Stockbridge is a real estate investment management firm led by seasoned senior professionals averaging 25+ years of real estate industry experience. The firm was founded in 2003 and manages real estate equity investments across the risk spectrum within a variety of investment structures on behalf of U.S. and foreign institutional investors. Stockbridge has approximately $33.8 billion of assets under management (as of June 30, 2023) across its two primary business lines, spanning all major real estate property types, and certain specialty property types, throughout the United States. The firm has offices in San Francisco, Atlanta and Chicago. For more information, visit www.stockbridge.com.
Source: Material Capital Partners LLC
0 Comments
Latest on EntSun News
- SalonInteractive Launches in Square App Marketplace to Provide eCommerce, Marketing & More to Beauty Professionals
- RacquetX Announces Miami Open Experience as Excitement Builds for Landmark 2024 Event
- Dominating Business Intelligence: Informer Tops the BI & Analytics Survey for the Fourth Time
- Lasse Enersen's There's Something in the Barn Original Score to be Released by MovieScore Media
- Pixel Swarm Drones to Showcase Spectacular Drone Light Shows at LDI in Las Vegas
- Advcash adds instant Pix payments in Brazil
- Ryan Cameron, 2x Emmy-Winning Radio Personality, Takes Flight as the New Voice of Hartsfield-Jackson International Airport
- Floris United Methodist Church announces first-ever mission trip for people with disabilities
- Southbound Beretta "Scotty Found Out" Premiere
- Sip Social Co. Partners With Omnify To Streamline User Experience Across Growing Operations
- Rifelion Announces First Feature Film 'Ramadan America'
- ICON Park transforms I-Drive into Winter Wonderland
- Introducing Movie Avid: Your Ultimate Destination for Everything Cinematic
- Fred Nassiri Relaunches "Love Sees No Colour"
- The Samuel Lawrence Foundation Presents Live from Dubai: First Friday Series Webinar on Dec 1
- Wohler makes the Evertz Quartz Protocol available for their iAM-SUM audio monitors & iVAM-SUM AV monitors
- Genuine Hospitality, LLC Adds Two, Southwest Florida Hotels, to Growing Portfolio
- The Holiday Season is Going to Get Spooky This Weekend
- The CPSE Shenzhen 2023 was inaugurated on October
- New Series, The Mental Motivator with Nakia Campbell is inspiring thousands