Middleburg Communities Announces $76.03 Million Sale of Mosby Carolina Forest in Myrtle Beach

Middleburg Communities announces the $76.03 million sale of Mosby Carolina Forest, a 332-unit Class A apartment community at 915 Brentmoor Drive in Myrtle Beach, SC. Mosby Carolina Forest was developed and managed by Middleburg Communities and reached stabilization in August 2020. The buyer was The Walden Group.

“Mosby Carolina Forest was developed to a level of finish and style not seen in the Myrtle Beach MSA before,” said Middleburg Communities Chief Investment Officer, Kory Geans. “The community was 20% leased prior to completion and exceeded our expectations on every front, despite delivering during the pandemic. The region’s growing jobs base, pleasant climate, and an abundance of natural resources in the area along with a contemporary design and exciting amenities appealed to discerning renters in the area.”

Mosby Carolina Forest features one-, two- and three-bedroom apartments in 10 buildings surrounding a 12-acre freshwater lake in the heart of Carolina Forest. Amenities include a 9,292 square foot, two-level clubhouse, 24/7 fitness center with yoga space, children's activity room, resort-style saltwater pool, outdoor fireplace and grills, a dog park and a lakeside walking path. Considered one of the most sought-after communities for people living in or moving to the Myrtle Beach area, Carolina Forest is a 9,000+ acre master planned community ideally located minutes from the beach and all of the region’s amenities and resources. Located just off of International Drive and Carolina Bays Parkway, Mosby Carolina Forest’s central location provides residents with easy access to multiple golf courses, shopping centers, the beach and boardwalk as well as area colleges, hospitals and medical facilities.

Middleburg extends its appreciation to Tai Cohen, Marc Robinson and Michael Saclarides of Cushman & Wakefield for their representation on the sale of the property.

Middleburg Communities is a fully integrated multifamily development, investment, construction and management company operating in the southeastern and mid-Atlantic United States. Since 2004, Middleburg has acquired and developed approximately 22,000 apartment units, and executed over $3 billion in transactions. The Middleburg team shares a vision for greater value creation through community impact. The firm’s success is rooted in a genuine desire to serve its local communities in thoughtful and holistic ways. Middleburg embraces people, property, and partnerships to enhance the lives of others, contribute positively to its neighborhoods and maximize real returns for partners. For more information, please visit www.MiddleburgCommunities.com.

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