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More than 300 apartments in Little River are in the hands of a new owner. How much is rent?

The Banks at Bridgewater, a 252-unit complex in Little River, was recently sold alongside a sister property for more than $78 million.
The Banks at Bridgewater, a 252-unit complex in Little River, was recently sold alongside a sister property for more than $78 million. Provided Provided

A pair of Little River housing complexes totaling nearly 300 apartments has been sold to a Lexington-based real estate investment firm for almost $80 million in the latest corporate reshuffling of the region’s booming residential sector.

Industry newsletter ReBusinessonline.com reported Dec. 14 that PassiveInvesting.com acquired The Banks and Stepping Stone at Bridgewater for $78.4 million.

A listing on PassiveInvesting.com has both properties ready for sale, requiring $37.7 million in equity for The Banks and $6.6 million for Stepping Stone.

Craig Davis Properties, based in Cary, N.C. finished development of The Banks earlier this year, according to its website.

The 252 units there are described as “upscale, lowcountry living” with rents of between $1,813 and $2,263.

Stepping Stone offers 44 build-to rent apartments. Rents for its two available floor plans are $2,143.

AB
Adam Benson
The Sun News
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