ACRE breaks ground on 331-unit Pepper Hall apartment community in the fast-growing Greater Savannah market of Bluffton-Hilton Head
HILTON HEAD, SC – ACRE, a global real estate private equity firm, announced that it has opened Pepper Hall Multifamily, a 331-unit upscale multifamily property in Bluffton-Hilton Head, South Carolina. The project is developed in partnership with Southeast Partners based in Charleston, South Carolina. With construction underway, Pepper Hall is set to officially open in the spring of 2024.
Located 11 miles west of Hilton Head Island within a newly developed mixed-use planned community, Pepper Hall will feature a mix of one- and two-bedroom residences, averaging 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 range of high-quality amenities, including a clubhouse, resort-style pool, fitness center, yoga studio with Fitness-on-Demand, and parks pockets adjacent to each building.
“ACRE remains focused on identifying unique multi-family and single-family development opportunities in high-growth Southeast coastal markets,” said Bret Hewett, vice president of acquisitions for ACRE. “We are very pleased to partner with an accomplished business from Southeast Partners to realize our vision for this development, and we are excited to expand our footprint to an underserved submarket located in a region that continues to experience an economy healthy. 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 fastest growing regions in the Southeast. Since 2000, the market has seen its population increase by approximately 55% as residents continue to settle in the area due to its attractive lifestyle, access to various outdoor amenities including the coast Atlantic, and the low cost of living.
Through a series of equity and debt funds, ACRE manages more than $3.2 billion in assets through private real estate investments and loans. The firm specializes in value-added multi-family opportunities and invests in affordable housing labor and assets in strategic growth markets. ACRE’s unique approach to managing its diverse portfolio of multi-family properties includes an intentional focus on creating value for residents that extends beyond the four walls of their home. By establishing a sense of community among residents through social impact investments and sustainable green measures, ACRE effectively improves tenant retention and generates stable, lucrative properties.