Astro Bug

CHARLESTON, S.C. - AstroBug -- Material Capital Partners ("MCP"), a real estate development and investment management firm based in Charleston, SC, announced it has closed the project financing for River Ford, a 170-unit rental home community in Brunswick, Georgia.

River Ford is located on 28 acres at Canal Road, approximately 15 minutes from downtown Brunswick and St. Simons Island. The new development will consist of 170 detached single-family homes and a host of amenities including a clubhouse with fitness center, co-working space and a resort-style pool, two large central lakes with a fishing dock, large bark park, playgrounds, extensive trail system and a network of pocket parks and green spaces. Site work started earlier in the year and vertical construction is expected to begin in February 2025.

Brunswick, a vibrant coastal city located between Savannah, Georgia and Jacksonville, Florida, offers a unique blend of coastal beauty and modern amenities. Just minutes from the picturesque beaches of the Golden Isles, named the best U.S. islands by Travel + Leisure, Brunswick is known for its rich history, distinctive cuisine, and Southern hospitality. The city features historic squares, a charming downtown with boutique shops, fine dining, art galleries, nineteenth-century Victorian-style homes, and expansive views of golden marshes.

Brunswick is home to the Port of Brunswick, the nation's second-busiest port for automobiles and heavy machinery. Following continued record growth, the Georgia Ports Authority is fast-tracking over $500 million in capacity expansion projects at the port, which will triple its capacity to approximately 1.4 million vehicles per year. This expansion is designed to support the growing electric vehicle manufacturing ecosystem across the Southeast and is expected to propel the Port of Brunswick past Baltimore to become the top U.S. automobile port by 2026.

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The demand for housing in Brunswick has far outpaced the available supply and River Ford will provide a high-quality housing option in this thriving coastal community.  This latest MCP build-for-rent community will offer the amenities and comforts of a single-family home lifestyle with the conveniences and flexibility associated with rental home living and professional property management.  It is targeted at residents who choose to rent based on privacy, flexibility, work proximity and value premium amenities in a professionally managed community.

"We are excited to bring River Ford to Brunswick," said Alex Chalmers, founder and managing partner of Material Capital Partners. "Our community will provide a differentiated community experience and offer residents a unique lifestyle that combines the convenience of a rental with the feel of a desirable neighborhood.  It is well-positioned to capitalize on the strong growth trends in Brunswick."

River Ford will be managed by Greystar with pre-leasing scheduled to begin in Spring 2025. Project financing was provided by Bluerock, Stanton Road Capital and MCP's institutional construction lender.  Construction will be handled by MCP's dedicated builder partner Winchester Commercial Group.

If you are interested in learning more about the community or for additional information regarding pre-leasing, please visit the project website www.riverford.mcpcommunity.com.

About Material Capital Partners
Material Capital Partners LLC ("MCP") is a vertically integrated real estate development and investment management firm based in Charleston, SC, focused on purpose-built single-family rental home communities throughout the Southeast and Midwest.

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Our communities of single-family rental homes combine the welcoming feel of a desirable neighborhood with the flexibility and ease of maintenance-free living, premium amenities and professional property management. For more information, visit www.materialcapitalpartners.com.

About Bluerock
Bluerock is a leading institutional alternative asset manager based in New York with regional offices across the U.S. Bluerock principals have a collective 100+ years of investing experience with more than $120 billion real estate and capital markets experience and manage multiple well-recognized real estate private and public company platforms. Today, Bluerock has more than $18 billion in acquired and managed assets and offers a complementary suite of public and private investment programs, with both short and long-term goals, to individual investors seeking solutions aimed at providing predictable income, capital growth, and tax benefits.

About Stanton Road Capital
Stanton Road Capital, LLC ("SRC") is a private investment management firm focused on direct commercial real estate investments and select private equity strategies. Founded in 2013, the principals of SRC have acquired over $7 billion of commercial and residential real estate. SRC currently owns and operates a national commercial and residential property portfolio in excess of 6 million square feet and 2,500 residential units and is actively investing on behalf of its institutional, family office, and private capital partners.