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Master-planned community in Beaufort County sold for $11 million

Jason Thomas //May 17, 2024//

Beach Commercial, a Division of The Beach Co., recently facilitated the sale of Heyward Point, a 454.5-acre Beaufort County mater-planned community, for $11 million. (Photo/The Beach Co.)

Beach Commercial, a Division of The Beach Co., recently facilitated the sale of Heyward Point, a 454.5-acre Beaufort County mater-planned community, for $11 million. (Photo/The Beach Co.)

Beach Commercial, a Division of The Beach Co., recently facilitated the sale of Heyward Point, a 454.5-acre Beaufort County mater-planned community, for $11 million. (Photo/The Beach Co.)

Beach Commercial, a Division of The Beach Co., recently facilitated the sale of Heyward Point, a 454.5-acre Beaufort County mater-planned community, for $11 million. (Photo/The Beach Co.)

Master-planned community in Beaufort County sold for $11 million

Jason Thomas //May 17, 2024//

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Beach Commercial, a division of The Beach Co., recently facilitated the sale of Heyward Point, a 454.5-acre Beaufort County master-planned community, for $11 million.

Representing Atlanta-based Drapac Capital Partners, Beach Commercial facilitated the sale of the community, which was originally purchased in 2013 for $1.675 million, to HP Land Development LLC, according to a news release.

“The asset was mispriced in 2013, well below replacement cost, and offered a unique picturesque development opportunity as a high-end waterfront master-planned community,” said William Miller, senior director at Drapac Capital Partners, in the release. “The Hilton Head/Beaufort submarket has long been a key destination for retirees, and the demographic-driven demand for communities like Heyward Point is only increasing. The team is pleased that the asset’s investment strategy has not only materialized but also exceeded our expectations.”

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Eddie Hughes with Beach Commercial represented the seller.

“Eddie’s expertise and dedication were instrumental in securing this successful transaction,” said John Darby, CEO and president of The Beach Co., in the release. “His in-depth market knowledge and unwavering client commitment continue to drive exceptional results for Beach Commercial.”