Argyle Real Estate Partners Secures New Growth Frontier with Newbrook Point Hope Acquisition
Argyle Real Estate Partners (Argyle), a firm well-versed in the nuances of multifamily acquisitions across the Southeast and Texas, has recently turned the spotlight onto Charleston, SC, an area representing burgeoning potential within the multifamily landscape. The completion of the 264-unit Newbrook Point Hope community, nestled in the esteemed and rapidly growing Daniel Island submarket, represents a significant milestone for Argyle—marking its inaugural leap into the Charleston market. This strategic move not only expands the firm’s footprint but also underscores its commitment to unlocking new opportunities within highly desirable locations.
Ryan Reyes, the CEO of Argyle Real Estate Partners, encapsulated the optimism surrounding the acquisition with these remarks: “Argyle is pleased to tap into unchartered territory and close out the year with the acquisition of Newbrook. Given its location and accessibility, the mint condition of the asset, and the development planned for the area, which we believe will help spur future growth, we’re confident that Newbrook will be one of our standout properties.”
The Newbrook community sits at the heart of a masterful blueprint—the ‘Point Hope’ Masterplan Development—instantiating Argyle’s keen eye for flourishing ecosystems comprising single-family homes, multifamily housing, retail, office space, and top-rated public schools. This choice acquisition is a reflection of a rich offering for residents with units averaging over 1,000 square feet. The living spaces, dressed with stainless-steel appliances, quartz countertops, extensive walk-in closets, and state-of-the-art fixtures, emphasize the high standard that Argyle imprints upon its portfolio. This lifestyle enclave is further enhanced by its well-curated amenities that resonate with the coastal charm of the region, as it houses a clubhouse, saltwater pool, pickleball court, fitness center, and even a creative dog park affectionately termed the “Doggy Paddle”.
Among the most salient of Newbrook’s attributes is its strategic positioning, a mere 25 minutes from Downtown Charleston, known for its manufacturing and healthcare prowess, and a stone’s throw away from Daniel Island’s material employers, including Benefitfocus and Booz Allen Hamilton, ensuring its residents remain in close proximity to the vibrancy of city life and employment hubs.
Mike Cacciatore, Principal at Argyle, reinforces this sentiment by stating, “Newbrook fits our investment criteria of buying well-located assets for below replacement cost in strong and desirable submarkets.” He further highlights, “By being within walking distance to Publix, 30K SF of quality retail, and A-rated public schools, Newbrook offers access to an unparalleled, walkable community that is and will remain desirable to prospective tenants over the long term.”
Newbrook is more than a residential complex; it is a testament to Argyle’s sagacity in seizing assets that resonate with the future of the multifamily sphere—an emblematic addition that delivers not just a living space but an invigorated community life.