Holder Properties and East West Partners to Develop 50 Luxury Townhomes on Daniel Island, Charleston, South Carolina.
Credit - The Middleton Group
Charleston, SC (February 22, 2024) - Holder Properties announces a partnership with East West Partners and SilverCap Partners to develop a purpose-built rental townhome community on 5.5 acres in Nowell Creek Village. The marsh-front community will feature premier amenities and three and four-bedroom units with attached garages.
Holder Properties and East West Partners will serve as the developers of the project. SilverCap Partners provided majority equity for the project, with construction financing provided by Georgia Banking Company. Patterson Real Estate Advisory Group led the capital raise and debt placement process.
This announcement represents continued progress in Holder’s broader development plans at Nowell Creek Village on Daniel Island. Holder Properties purchased the 36-acre site between Nowell Creek and Beresford Creek in 2019 and set out to create a mixed-use community surrounded by the stunning natural environment. Consistent progress has been made at Nowell Creek Village.
The waterfront community is currently home to Marshside, a Class A office building owned and managed by Holder, as well as a 320-unit multifamily project under construction by Middle Street Partners. Boutique retail, as well as a community park and dock, are in the planning and permitting phases.
“We’ve owned this land for nearly five years and have been intentional about its purpose and our partners,” states Will Menkes, President of Holder Properties. “Limited residential inventory, coupled with high demand to live on Daniel Island, has created a strong need for purposefully built rental homes that provide access to the island’s great schools and amenities. The ability to move this project forward in today’s challenging macroeconomic environment speaks volumes about the merits of this project and the team assembled to bring it to life.”
East West Partners is a leading luxury developer devoted to supporting high-quality real estate and lifestyle experiences. On Daniel Island, they have achieved notable success with The Waterfront, a luxury 22-acre community featuring residences, experiential retail, and community amenities.
“This new townhome community within Nowell Creek Village represents an incredible opportunity for East West Partners to expand our portfolio into the build-to-rent market and continue addressing the demand for luxury residences on Daniel Island,” says East West Partners Managing Partner Miller Harper. “With interest in the lifestyle that Daniel Island affords at an all-time high, we are excited to bring to market a project that aligns with our values of offering high-quality real estate with a focus on community.”
The project is already under construction with the first units debuting in spring 2025.
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About Holder Properties:
Founded in 1980, Holder Properties is a privately held, full-service commercial real estate company. Holder Properties has extensive experience in investments, development, asset, and property management. Holder Properties has developed or acquired over 100 projects across the US with total capitalization in excess of $4 billion. The Company’s portfolio contains a diverse range of property types including student and rental housing, multi-tenant office and corporate headquarters, and other commercial assets. Holder Properties strives to build long-term, rewarding relationships with its partners, clients, and the communities it serves through its commitment to integrity and delivering best-in-class assets and service. To learn more visit holderproperties.com.
About East West Partners:
East West Partners is devoted to building, selling, managing, and supporting high-quality real estate and lifestyle experiences with a focus on innovation, sustainability, and community. Since 1986, the firm has developed and sold over $7 billion of residential and commercial real estate across the country. East West Partners is one of just a handful of companies to have received three Urban Land Institute Awards for Excellence for its projects, including Beaver Creek Village in Beaver Creek, Colo. and Union Station Neighborhood and Riverfront Park, both in Denver, Colo. In Charleston, the team is recognized for developing community projects in the downtown area, including condominiums at One Vendue Range, 76 condominium units in Gadsdenboro Park’s The Gadsden, condominiums and townhomes at The Waterfront on Daniel Island, and Mount Pleasant’s Tides IV. Currently underway are 78 condominiums at The Cape on Kiawah Island and 12 condominiums at 71 Wentworth in downtown Charleston. East West Partners is also credited with managing the recent repositioning and renovation of Charleston’s former 91-room King Charles Inn, now The Ryder hotel on Meeting Street. For more information, visit ewpartners.com.
About SilverCap Partners:
SilverCap Partners LLC (“SilverCap”) is a real estate investment management firm based in Charlotte, NC and wholly owned by its two founders. The firm was started in 2012 and has acquired or developed over $2,000,000,000 worth of industrial, residential, retail, and office real estate throughout the Southeastern United States since inception. SilverCap can invest and develop independently or via joint ventures with local real estate operators or developers. In each case, SilverCap utilizes its real estate operational and capital markets expertise to identify compelling investment opportunities as well as the best-in-class operators or developers in a given market to help execute on them.
Please see the firm’s website, www.silvercappartners.com, for more information on its investment strategy and team.