Watercrest Senior Living Breaks Ground on Myrtle Beach Development
- Jul 03, 2020
Watercrest Senior Living Group, has broken ground on Watercrest Myrtle Beach Assisted Living and Memory Care, a senior living community in Myrtle Beach, S.C.
The company and its equity partners, Peninsula U.S. Real Estate and Corecam Capital Partners, will build a 98-unit luxury senior living community, which is to be financed by the Bank of Texas. The general contractor is Shiel Sexton. First move-ins are expected to be welcomed late next year. In May, Watercrest and the same two equity partners broke ground on another 98-unit senior living community, this one in Macon, Ga.
Located at 6151 Colline Verdi Way, Watercrest Myrtle Beach will offer 76 assisted living and 22 memory care apartments. A salon and spa are among prominent amenities. The development is in an area of golf courses, medical centers, shopping centers, restaurants and entertainment, as well as 600 yearly arts events. Professional associations, religious organizations, arts groups, and community service organizations provide a way to connect.
Watercrest Myrtle Beach will feature an outdoor streetscape and Watercrest Senior Living Group’s signature LifeBUILT programming elements. They include verandas and outdoor living spaces, multiple social gathering spaces and and indoor and outdoor fireplaces.
Residences feature open floorplans, abundant natural light, in-unit washers and dryers and walk-in closets.
Peninsula U.S. Real Estate is a private equity firm in the student and senior housing space and a vertical within Peninsula Investments Group. The company delivers equity and mezzanine financing to developer-operators in the student housing, senior housing and multifamily space. Its investment focus on real estate, private equity and private lending, Corecam Capital Partners serves as direct investment arm of Corecam Investment Group. Corecam furnishes investors with access to regular deal flow of privately sourced and in-house structured investments through its direct investment platform.