Charleston’s oldest locally owned full-service commercial real estate firm, Beach Commercial, a Division of The Beach Company, announced today that it facilitated the sale of Heyward Point, a 454.5-acre Beaufort County master-planned community, for $11 million on April 30.

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.  

“The asset was mis-priced in 2013, well below replacement cost, and offered a unique picturesque development opportunity as a high-end waterfront master-planned community,” says William Miller, Senior Director at Drapac Capital Partners. “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.”

Eddie Hughes with Beach Commercial represented the seller.

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