The coastal Carolina land sale demonstrates sustained demand in a growing submarket
Atlanta-based investment group Drapac Capital Partners today announced the sale of 61 developed single-family residential lots within the Goose Marsh master-planned community in Brunswick County, North Carolina to Chesapeake Homes for $3.965 million.
Located off of Gilbert Road in central Brunswick County, between North Myrtle Beach, SC and Wilmington, NC, the community is well positioned to absorb the significant demand for new home inventory in one of the fastest growing counties in North Carolina.
“Drapac’s patient investment strategy and measured approach to dispositions delivered an outstanding result with the recent sale at Goose Marsh,” said William Miller, Director – Real Estate at Drapac Capital Partners. “Brunswick County’s population growth has accelerated significantly over the last decade, resulting in increased demand for new housing supply. We believe it’s imperative to improve the availability of high-quality, attainable housing opportunities and Chesapeake Homes’ recent acquisition in Goose Marsh positions them perfectly to meet the demand.”
Since 2012, Brunswick County’s population has surged by 40%, leading to a substantial rise in home sales in the region. Brunswick County’s residential real estate market saw a 9.3% increase in sales volume in May 2022 compared to May 2021. The May 2022 total was among the highest single-month sales volume on record, according to the Brunswick County Association of Realtors.
The sale was brokered by Curtis Dukes of Blue Strand Real Estate Group.
“Brunswick County has continued to be one of the fastest-growing counties in North Carolina and 4th in the nation for several consecutive years,” said Curtis Dukes, broker for Blue Strand Real Estate Group. “This transaction represents continued demand for housing development in the coastal Carolina market, as patient and diligent builders and developers take advantage of opportunities to fill their pipeline, recognizing the long-term strength of this market.”
With over three decades of experience, Drapac Capital Partners is a highly specialized international property investment group, identifying opportunities through unorthodox means and focusing on the crucial balance between risk management and performance. The Australian-based firm has consistently outperformed the broader market and achieved a premium track record of returns across multiple asset classes. With a proven growth trajectory, including expansion into the U.S. in 2011, Drapac’s current portfolio includes over 10,500 acres of land across multiple markets, with a gross development pipeline of over $8 billion. For more information, visit drapaccapital.com.