Home Alts News RK Properties Buys Multifamily Property in Myrtle Beach for DST Offering

RK Properties Buys Multifamily Property in Myrtle Beach for DST Offering

RK Properties, a sponsor of alternative private placements and 1031 exchange offerings, has purchased Haven Pointe at Carolina Forest in Myrtle Beach, South Carolina.

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RK Properties, a sponsor of alternative private placements and 1031 exchange offerings, has purchased Haven Pointe at Carolina Forest, a Class A multifamily property located in Myrtle Beach, South Carolina. The property will be offered as a Delaware statutory trust to accredited 1031 exchange and straight capital investors.

Constructed in 2020, Haven Pointe at Carolina Forest has 304 units, each with an average size of 1,030 square feet. Unit amenities include stainless steel appliances, granite counter tops, nine- and ten-foot ceilings, full-size washers and dryers, walk-in closets, and balconies and patios.

“We believe this asset is consistent with our disciplined underwriting criteria that meets the requirements of our investors for preservation of capital, reliable monthly income, appreciation, and tax benefits,” said Steve King, chief operations officer of RK Properties.

King added that RK Properties focuses on acquiring multifamily assets nationally in locations with strong historical rent growth.

Property amenities at Haven Pointe include a clubroom with billiards, a business center and conference room, fitness center, a pool with grilling stations, a playground, pet park, car wash and electric car charging stations.

RK Properties has a 40-plus year track record in the multifamily market. To date, the company has purchased and managed more than $1.5 billion in assets across the country.

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