ACRE, ARK Residential to Acquire 150 SFR Homes in Myrtle Beach with $37M Loan

Atlanta, GA-based ACRE, a global real estate private equity firm, and partner ARK Residential, a real estate investment and management platform, have agreed to acquire 150 homes from Pulte Group at The Springs at Arcadia, a single-family-rental community currently under construction in Myrtle Beach, SC.

Alascio, Chuck Kohaut, TJ Sullivan and John Spreitzer of Cushman & Wakefield arranged $37 million in acquisition financing with Arbor Realty Trust, Inc. for the project.

The Springs at Arcadia will serve as the exclusive rental community within the larger master-planned community known as Arcadia, and residents will have access to the master plan’s recreational center, complete with a large clubhouse, pickleball courts, a resort-style pool, and more. The three- and four-bedroom detached homes will have two-car garages along with yard space.

“We’re excited to plant a flag in Myrtle Beach, a market that is seeing tremendous growth recently, with particularly strong demand for SFR product,” said Bret Hewett, vice president of acquisitions for ACRE.

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