Graycliff Capital Adds to Residential Holdings with Acquisition of Lullwater at Riverwood near Augusta
Thursday, October 29th, 2020
Greenville-based Graycliff Capital Partners, LLC (Graycliff Capital), a leading developer/owner in the multi-family sector, has acquired Lullwater at Riverwood, a well-maintained, Class-A, gated apartment community in Evans, Georgia – voted Money magazine’s No. 1 Best Place to Live in America for 2020. Built in 2015, Lullwater at Riverwood is ideally situated between downtown Augusta and the waters of Clark Hills Lake – familiarly known as “Georgia’s Freshwater Coast.” According to Money, this part of the Central Savannah River Area (CSRA) continues to attract new arrivals with plenty of good-paying jobs in healthcare administration and the military nearby.
“Graycliff invests in underserved submarkets of areas with tremendous growth potential and Lullwater at Riverwood fits well with this strategy,” said Paul Aiesi, partner at Graycliff Capital. “The property’s location offers a perfect balance of convenience to shopping, healthcare, downtown Augusta, and major employers – with ready access to a number of outdoor recreational activities, including biking, fishing, boating, hiking and hunting in designated areas. This acquisition perfectly complements our existing holdings in neighboring South Carolina.”
Lullwater at Riverwood is a 212-unit, upscale residential community comprised of garden-style apartment homes featuring one-, two- and three-bedroom floor plans – with special features such as walk-in closets and built-in office nooks. Planned improvements include unit upgrades to stainless steel appliances and granite countertops. Groundfloor units have patios, while second-floor units have balconies. A limited number of detached garages, as well as storage units, are available for rent at an additional cost per month.
Best-in-class community amenities include a resort-style swimming pool, fitness center, cyber café, outdoor grilling area, car care area, playground and dog park. Exterior improvements will include adding an additional dog park, two fire pit/amenity areas, upgrades to the playground, adding TVs to the fitness center, and updated pool furniture. Additionally, a concierge system will be added to the clubhouse.
Neighborhood retailers, such as Publix and CVS Pharmacy, are a short five-minute drive from Lullwater at Riverwood, with a popular shopping district and world-class medical campus just 13 minutes away. The property is convenient to the area’s major employers in healthcare, education, manufacturing and energy, as well as Fort Gordon – home to the US Army’s Cyber Command operations.
Lullwater at Riverwood will be operated by Greenville-based NHE, Inc., which also manages The Ironwood Apartments, a well-performing property in nearby North Augusta, S.C. owned and operated by Graycliff Capital. With the addition of the Lullwater at Riverwood, Graycliff now owns a total of 492 units in the CSRA market.
For more details about Lullwater at Riverwood upscale apartment community, visit www.liveatriverwood.com or call the leasing office at (706) 450-8943.