Värde Partners and Freehold Capital Management Form Partnership to Acquire Master-Planned Communities

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Oct 03, 2023, 15:12 ET

Newly acquired properties include Savannah Quarters in Pooler, Georgia, and Grande Dunes in Myrtle Beach, South Carolina

BOSTON and MINNEAPOLIS, Oct. 3, 2023 /PRNewswire/ -- Freehold Capital Management, a prominent developer of master-planned communities and build-to-rent neighborhoods, and Värde Partners, a leading global alternative investment firm, announced the formation of a partnership to acquire two expansive master-planned communities: Savannah Quarters in Pooler, Georgia, and Grande Dunes in Myrtle Beach, South Carolina.

Savannah Quarters is a 2,600-acre mixed-use master-planned community. Located approximately 14 miles from Savannah, Georgia, the community is home to more than 2,800 families with approximately 700 remaining homes. Grande Dunes is a 2,200-acre mixed-use master-planned community that is home to more than 2,300 families with multiple remaining parcels to be developed.

The assets acquired include current and future home sites, commercial parcels, and amenities including Grande Dunes' marina and Ocean Club. Under Värde and Freehold Capital Management's ownership, Savannah Quarters and Grande Dunes will continue to actively develop new neighborhoods, with additional lots expected to be available in the near term.

"We are excited about our partnership with Värde Partners and the acquisition of Savannah Quarters and Grande Dunes. This venture marks a significant step forward for Freehold Capital Management. These master-planned communities offer substantial opportunities for growth and development, and we are committed to maximizing their potential. With our combined expertise and resources, we aim to enhance these communities and create lasting value in Pooler, Georgia, and Myrtle Beach, South Carolina. We look forward to continuing to seek opportunities together and drive success in the world of master-planned communities and real estate development," Casey Tischer, Principal at Freehold Capital Management.

"With continued strong demand for housing in major Sunbelt markets, we believe these communities offer a compelling and complementary addition to our existing portfolio of master-planned communities. Värde has 30 years of experience in U.S. residential land development and homebuilding, and we welcome the collaboration with Freehold Capital Management to expand on the vision and reputation of these desirable communities," said Brendan Bosman, Senior Managing Director at Värde Partners.

About Freehold Capital Management

Freehold Capital Management (FCM) is an opportunity-focused investor and developer of real estate throughout the United States. It is headquartered in Boston, MA. Since its founding in 2013, FCM has focused on a broad range of housing, including residential mixed-use and master-planned developments, as well as concentrated rental communities. These ventures extend from FCM's Freehold Communities^® and 360 Communities^® brands. Freehold Communities is one of the nation's largest developers of award-winning, large-scale, mixed-use, and master-planned communities. And 360 Communities is a fast-growing provider of high-quality new homes for lease.

Freehold Capital Management has assets, investments, and offices all over the county, with over 7,000 acres of land, 26,000 units for sale, as well as multifamily units, and over 500,000 square feet of retail and office development. 360 Communities currently has approximately 2000 units of rental and multifamily housing either leased, in lease-up, or under development.

For more information, please visit www.Freeholdcm.com.

About Värde Partners

Värde Partners is a leading global alternative investment firm specializing in credit and credit-related assets. Founded in 1993, the firm has invested more than $95 billion across the credit quality and liquidity spectrum in both public and private markets. Värde currently manages $13 billion in assets with teams in North America, Europe, and Asia Pacific focused on Corporate & Traded Credit, Real Estate, and Financial Services & Diversified Private Credit.

Some of Värde's investments in master-planned communities include Estrella in Goodyear, AZ; Estancia in Scottsdale, AZ; Daybreak in South Jordan, UT (SLC metro); Windsong Ranch in Prosper, TX (Dallas metro); Vistancia in Peoria, AZ; Verde River in Scottsdale, AZ; and Sunfield in Buda, TX (Austin metro).

For more information, please visit www.varde.com.

Media contacts

Freehold Capital Management: Jack Skelley, Mike Hoye, JSPR. [email protected]

Värde Partners Communications and Public Affairs: communications@varde.com

SOURCE Freehold Capital Management