Greenville-based Graycliff Capital adds to residential holdings with acquisition of Lullwater at Riverwood near Augusta
October 29, 2020
Greenville-based Graycliff Capital Partners, LLC, a leading developer/owner in the multi-family sector, has acquired Lullwater at Riverwood, a well-maintained, Class-A, gated apartment community in Evans, Georgia – voted Money magazine’s No. 1 Best Place to Live in America for 2020. Built in 2015, Lullwater at Riverwood is ideally situated between downtown Augusta and the waters of Clark Hills Lake – familiarly known as “Georgia’s Freshwater Coast.” According to Money, this part of the Central Savannah River Area (CSRA) continues to attract new arrivals with plenty of good-paying jobs in healthcare administration and the military nearby.
“Graycliff invests in underserved submarkets of areas with tremendous growth potential and Lullwater at Riverwood fits well with this strategy,” said Paul Aiesi, partner at Graycliff Capital. “The property’s location offers a perfect balance of convenience to shopping, healthcare, downtown Augusta, and major employers – with ready access to a number of outdoor recreational activities, including biking, fishing, boating, hiking and hunting in designated areas. This acquisition perfectly complements our existing holdings in neighboring South Carolina.”
Lullwater at Riverwood is a 212-unit, upscale residential community comprised of garden-style apartment homes featuring one-, two- and three-bedroom floor plans – with special features such as walk-in closets and built-in office nooks. Planned improvements include unit upgrades to stainless steel appliances and granite countertops. Groundfloor units have patios, while second-floor units have balconies. A limited number of detached garages, as well as storage units, are available for rent at an additional cost per month.
Best-in-class community amenities include a resort-style swimming pool, fitness center, cyber café, outdoor grilling area, car care area, playground and dog park. Exterior improvements will include adding an additional dog park, two fire pit/amenity areas, upgrades to the playground, adding TVs to the fitness center, and updated pool furniture. Additionally, a concierge system will be added to the clubhouse.
Neighborhood retailers, such as Publix and CVS Pharmacy, are a short five-minute drive from Lullwater at Riverwood, with a popular shopping district and world-class medical campus just 13 minutes away. The property is convenient to the area’s major employers in healthcare, education, manufacturing and energy, as well as Fort Gordon – home to the US Army’s Cyber Command operations.
Lullwater at Riverwood will be operated by Greenville-based NHE, Inc., which also manages The Ironwood Apartments, a well-performing property in nearby North Augusta, S.C. owned and operated by Graycliff Capital. With the addition of the Lullwater at Riverwood, Graycliff now owns a total of 492 units in the CSRA market.
For more details about Lullwater at Riverwood upscale apartment community, visit www.liveatriverwood.com or call the leasing office at (706) 450-8943.
Graycliff Capital in the Carolinas and Beyond
Graycliff’s latest acquisition in the CSRA region, Lullwater at Riverwood, supports the needs of fast-growing Columbia County, known for its thriving regional economy focusing on government, recreation and tourism, higher education, healthcare, manufacturing and energy. Graycliff acquired The Ironwood Apartments in North Augusta, S.C. in 2019.
Graycliff has developed multiple luxury apartment communities across the Carolinas in recent years, including three popular Upstate South Carolina developments – Cotton Mill Apartments, Waterleaf at Neely Ferry, and Waterleaf at Keys Crossings. Graycliff acquired Reserve at Asheville in Western North Carolina near Asheville earlier this year. Graycliff’s recent and current coastal developments include Waterleaf at Murrells Inlet in South Carolina; Waterleaf at Battery Creek in Port Royal, South Carolina; and Waterleaf at Leland, near Wilmington, North Carolina.
Over the past decade, Graycliff’s geographic reach has extended beyond the Carolinas to other parts of the Southeast, including Tennessee. Graycliff’s portfolio also includes multi-family communities in the Mid-Atlantic region, as well as Ohio and Pennsylvania.
About Graycliff Capital Partners, LLC
Headquartered in Greenville, S.C., Graycliff Capital Partners is a multi-family development and investment company with focus on the Southeast and Mid-Atlantic regions of the United States. Since its founding in 2010, Graycliff has acquired and developed more than 10,000 apartment units, executing approximately $1.62 billion in transactions. Graycliff’s core strategy is based on investing in areas with established economic growth and high barriers to entry. Graycliff is passionate about supporting local non-profits making positive impacts in their respective communities. For more information, visit www.graycliffcapital.com.
