Continental Realty Corporation Expands Bluffton Real Estate Portfolio with $44.5 Million Acquisition of Bristol at New Riverside

Exciting Real Estate News in Bluffton!

Bluffton, nestled in the scenic Lowcountry of South Carolina, is buzzing with some fantastic news for the real estate market! A notable real estate investment company from Baltimore has recently made waves by purchasing a second multi-family community in this vibrant area for a whopping $44.5 million. That’s right—Continental Realty Corporation (CRC) announced on September 25 that they have acquired the Bristol at New Riverside, a delightful community located at 205 Forest Trace.

A Growing Presence in the Lowcountry

With this latest addition, CRC now boasts more than 1,100 apartment homes throughout the Lowcountry, which includes popular spots like Hilton Head, Charleston, and Mount Pleasant. The company operates in a total of 12 states and is committed to providing top-notch living spaces for residents. The Bristol at New Riverside was developed by Madison Communities and just recently completed in 2024. Before the sale, the community was known as Madison New Riverside and was already 90 percent leased, showing just how desirable this property has become.

A Closer Look at Bristol at New Riverside

The new community offers a charming collection of 166 units situated in six two and three-story buildings. Residents can choose between one and two-bedroom floorplans with sizes ranging from 745 to 1,186 square feet. The average unit size is a comfortable 942 square feet, with a mix of 58 percent one-bedroom and 42 percent two-bedroom apartments. Sounds lovely, doesn’t it?

Ari Abramson from CRC expressed great enthusiasm about the acquisition, referring to Bristol at New Riverside as a “best-in-class asset” thanks to its strategic position within the thriving New Riverside Village community—a hub bustling with activities and amenities. “Our team is very familiar with the South Carolina Lowcountry,” Abramson noted, indicating that this purchase isn’t just an investment; it’s about integrating into the community.

Community Amenities Galore!

What makes Bristol at New Riverside truly stand out are its modern apartment features. Think along the lines of nine-foot ceilings, elegant quartz countertops, stylish tile backsplashes, and designer lighting. Plus, cozy soaking tubs and spacious walk-in closets are sure to make residents feel right at home.

And if that wasn’t enough, residents will also benefit from a large clubhouse equipped with a state-of-the-art fitness center, a coffee lounge, and a digital access package-acceptance area. Outdoor enthusiasts will be delighted to know there’s a saltwater swimming pool and a recreation area that CRC plans to activate within the first year of ownership.

The Bright Future of Bluffton-Hilton Head

Abramson pointed out the impressive pace at which leases are being signed, indicating a strong demand for rental housing in the greater Bluffton-Hilton Head area. The leasing activity has been so consistent that it happened before retailers even started opening their doors at New Riverside Village. This signals a growing and expanding community for the future.

Interestingly, recent data from Zillow Group shows that the single-family home values in adjacent neighborhoods sit between $400,000 and $500,000. Given that the average cost of townhomes nearby is around $500,000, opting to rent an apartment at Bristol at New Riverside comes with a significant advantage—a savings of more than $1,000 monthly. Now that’s a smart move!

Investing in Community

This acquisition marks the third asset procurement for CRC on behalf of the Core Multifamily Fund, LP—an initiative in partnership with Brown Advisory. As they strengthen their presence in Bluffton, it’s clear that CRC’s mission goes beyond just real estate; it’s about being a part of a vibrant and welcoming community.

In a nutshell, Bristol at New Riverside is not just a new home; it’s a recipe for a fantastic lifestyle in the heart of Bluffton. Whether you’re a local resident or considering moving to the area, it’s a thrilling time to be a part of this flourishing community!