Print
Real Estate - Residential

For Nearly $4M, Investment Firm Sells Brunswick County Home Sites

By Staff Reports, posted Feb 3, 2023
An investment group recently sold 61 single-family housing lots in a Great Recession-stalled subdivision in Brunswick County. (Photo courtesy of Chesapeake Homes)

Atlanta-based investment group Drapac Capital Partners recently announced the sale of 61 single-family residential lots in the Goose Marsh community in Brunswick County, according to a news release.

Chesapeake Homes, which has offices in Raleigh, Myrtle Beach, South Carolina, and Virginia Beach, Virginia, bought the lots from Drapac for nearly $4  million.

Located off Gilbert Road in central Brunswick County, the so-called "zombie" subdivision previously impacted by the Great Recession of 15 years ago is now "well-positioned to absorb the significant demand for new home inventory in one of the fastest growing counties in North Carolina," officials stated in the release.

The builder is expected to start work on the lots in the first quarter of this year, a company spokesperson said in an email.

William Miller, director of real estate at Drapac, stated in the release, “Brunswick County’s population growth has accelerated significantly over the last decade, resulting in increased demand for new housing supply. We believe it’s imperative to improve the availability of high-quality, attainable housing opportunities and Chesapeake Homes’ recent acquisition in Goose Marsh positions them perfectly to meet the demand.”

The Goose Marsh sale was brokered by Curtis Dukes of Blue Strand Real Estate Group.

“Brunswick County has continued to be one of the fastest-growing counties in North Carolina and 4th in the nation for several consecutive years,” Dukes said in the release. “This transaction represents continued demand for housing development in the coastal Carolina market, as patient and diligent builders and developers take advantage of opportunities to fill their pipeline, recognizing the long-term strength of this market.”

Ico insights

INSIGHTS

SPONSORS' CONTENT
Tommytaylor ceo unitedway

How Philanthropy Fits Into Your Financial Plan

Tommy Taylor - United Way
Pfinder john zachary

What You Need to Know About SECURE 2.0 and Its Effect on Individual Retirement Accounts

John B Zachary - Pathfinder Wealth Consulting
Jordain 422430214

Why Messing Up is Essential for Business and How to Do it More

Jordan Cain - APPROVE

Trending News

Passenger Rail Study Offers New Details About Proposed Wilmington To Raleigh Route

Emma Dill - Apr 22, 2024

Severe Weather Postpones Trump Rally In Wilmington

Emma Dill - Apr 20, 2024

Will NC Be CNBC's Three-time Top State For Business?

Audrey Elsberry - Apr 22, 2024

In The Current Issue

Surf City Embarks On Park’s Construction

“Our little town, especially the mainland area, is growing by leaps and bounds. So having somewhere else besides the beach for kids to go an...


MADE: Makers Of Important Papers

W.R. Rayson is a family-owned manufacturer and converter of disposable paper products used in the dental, medical laboratory and beauty indu...


Taking Marine Science On The Road

“My mission and my goal is to take my love of marine science, marine ecosystem and coastal ecosystems and bring that to students and teacher...

Book On Business

The 2024 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.

Order Your Copy Today!


Galleries

Videos

2024 Power Breakfast: The Next Season