MYRTLE BEACH, SC – Buvermo Investments, a commercial real estate investment company, announced the acquisition of Inspire Coastal Grand, an active adult apartment home community in Myrtle Beach, South Carolina. The property, which now operates under the name, The Grove at Coastal Grand, is located at 1749 Sea Pine Blvd.
The acquisition highlights Buvermo’s growing investment in the active adult sector and will bring capital improvements to the current property, as well as the introduction of Greystar, the global leader in rental housing, as the new property management team onsite. Greystar is also the leader in active adult space, currently operating 90 active adult apartment homes and roughly 15,000 units nationwide.
“We are seeing an influx of older adults migrating to coastal towns that are seeking connection and community,” stated Kevin Woodley, Managing Partner at Buvermo. “Our goal in acquiring this resort-influenced community is to further develop community partnerships and both enhance the development offerings and innovate the operations for current and future residents. We are excited to be a part of all the growth in Myrtle Beach.”
Myrtle Beach’s first and only active adult community opened its doors in April 2021 to residents aged 55 years and older. The four-tale, 194-unit development offers residents one-, two- and three-bedroom floorplans with private balconies and patios. Spanning over 9 acres, the community features include a resort-style pool, fitness center, yoga studio, creative arts room, theater room, billiards room, dog park, outdoor courtyards, walking trail, pickleball and bocce ball courts, and more. The property is located just minutes away from the Myrtle Beach Boardwalk and Promenade and near the Whispering Pines golf course, as well as a variety of shopping, dining, and entertainment options in the heart of Myrtle Beach.
“We are thrilled to partner with First National Bank on this acquisition,” said Jim Lindsey, Managing Partner at Buvermo. “We appreciate the opportunity to collaborate with each of these experienced entities in both broadening our collective portfolios and serving the needs of residents 55 and older in Myrtle Beach. We look forward to further developing this property’s potential and offering tremendous value to the local community.”
The Grove at Coastal Grand is currently the only active living community that offers rental units in the local Myrtle Beacharea. Residents delight in a resort-inspired carefree lifestyle, a strong sense of community, engaging programming with a plethora of on-site events, and amenities geared towards staying healthy and active, as well as a maintenance-free lifestyle—all differentiators between this property and others serving the 55+ age demographic.
Myrtle Beach is more than just a tourist destination and has been rated in the “Top 25 Best Places to Retire” by U.S. News & World Report, based on the happiness of local residents, housing affordability, tax rates and healthcare quality. With mild weather year-round and a coastal location with proximity to sprawling beaches and fine dining, the area draws tourists and retirees alike.

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PORT ST LUCIE, FL – Lerner Enterprises of Rockville, Maryland has bought Lerner Parc at Gatlin Commons, previously Parc at Gatlin Commons, located in Port St. Lucie, Florida. This class-A multifamily garden community is comprised of 200 apartments and 5,935 square feet of luxurious amenity space in Port St. Lucie, Florida. The building spans a total of 201,000 residential square feet over 14 acres, completed in September 2020. Lerner will also be the property and asset manager of Lerner Parc at Gatlin Commons.
“Parc at Gatlin Commons is the perfect complement to our existing Florida multifamily portfolio as we strive to buy and develop Class A assets in the path of growth either in the Washington, D.C. metro or Florida markets. We plot to hold this asset for a long time and hope to continue adding to our Florida portfolio,” clarified Michael L. Cohen, Vice President of Investments at Lerner.
The community is located only 2.5 miles east of Tradition, a master-plotted mixed-use development featuring 1.2 million square feet across office, residential, numerous retail outlets and the Cleveland Clinic Tradition Hospital. In addition to Tradition, directly adjacent to the property are a number of retail outlets including Walmart, Sam’s Club and other shopping center favorites. The property’s location offers convenient access to major interstates with on-ramps to I-95 and the Florida Turnpike only 1.5 and 3.5 miles away, respectively. In addition to the multitude of existing employment opportunities, local growth has forced the expansion of major employers such as the Cleveland Clinic’s Martin Health and Tradition Hospital locations.
Located on Florida’s east-coast between Miami and Orlando, Port St. Lucie has emerged as one of the nation’s premier growth cities and the 3rd largest city in Florida. In 2019, it was named one of the fastest growing cities with the population doubling between 2000 and 2019. In the same year, the city was named as one of the safest cities in the U.S. and one of the best places to retire according to the TC Palm news agency. In May 2022, the Census Bureau named Port St. Lucie as the 12th fastest growing city during the pandemic with a growth rate of 5.2% and the population now topping more than 217,000 people.
“The Port St. Lucie submarket is one of the most dynamic across all of Florida. We have been looking for the right community in St. Lucie County and are thrilled with this addition to our portfolio. We are excited about the opportunity to offer an incredible living experience for our residents,” said Melissa Balkin, Managing Director, Lerner Residential Florida.
Lerner Parc at Gatlin Commons includes a resort-style swimming pool, outdoor kitchens and a top-class fitness center housed in the 5,935 square foot clubhouse. The residential property is fully equipped for resident life and comfort. Lerner received a loan from PCCP to finance the acquisition of Lerner Parc at Gatlin Commons.
“PCCP sees this as a compelling opportunity to lend to Lerner, an experienced multifamily operator, on this well-located, newly built Class A project in a high growth submarket of South Florida,” said Kevin Chin, Managing Director with PCCP.

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TUCSON, AZ – New York City-based Vesper Holdings, an industry leader in student housing widely recognized for making value through its award-winning renovation and rebranding program, has bought Sol y Luna, a two-tower, high-rise luxury student housing complex located in Tucson, Arizona. The acquisition ranks among the five largest single-asset buys in student housing history and the largest not involving institutional capital. Vesper has closed on more than $1 billion in assets in the past 12 months. With the Sol y Luna acquisition, Vesper’s portfolio totals 24,093 beds with a valuation of over $2 billion.
“The acquisition of Sol y Luna fits with our strategy of purchasing well-located, trophy assets near Division 1 universities,” said Vesper Holdings Co-Founder and Co-CEO Isaac J. Sitt. “We look forward to executing our investment plot, including over $7 million in property improvements, to deliver the outsized returns we have consistently achieved for our investors over many years.”
“Vesper is known for making boutique communities that incorporate elements of the world’s most upscale hospitality brands,” said Vesper Holdings Co-Founder and Co-CEO Elliott Tamir. “This asset is a perfect companion to the other properties in our portfolio and gives us a presence in a market where we have hoped to be for quite some time. It also positions us ideally for the next huge step in our expansion plot.”
Vesper Holdings bought the property from Nelson Partners Student Housing for $203 million and closed on the sale October 24. Brad Cooke from Colliers represented the seller and Vesper was advised on the transaction by Tim Bradley from TSB Capital Advisors.
The Sol y Luna property boasts two high-rise towers, one 13 tales and the other 15, built in 2014 and located immediately adjacent to The University of Arizona. They house 340 units and 972 beds, for a total residential area of 344,760 square feet, plus 7,640 square feet of retail space and 200 garage parking spaces. The unit mix ranges from studios to five-bedroom apartments, with 75% of the units having bed-bath parity. Apartments feature high-end finishes such as quartz countertops, stainless steel appliances and wood-plank flooring, as well as in-suite washers and dryers and private balconies.
“The Sol y Luna acquisition represents an exciting milestone in Vesper’s continuing investment in the student housing market,” said Sitt. “We are excited to add this exceptional property to our portfolio and look forward to imprinting it with our own inimitable brand. From where we sit, the possibilities are limitless in terms of where we may go in the future.”
Vesper’s portfolio, including Sol y Luna, is managed by Vesper’s subsidiary property management company – Campus Life & Style (“CLS”). CLS currently manages over 29,000 student housing beds across 37 university markets.

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