Case Study

Opportunistic Multifamily Development

Waterleaf at Battery Creek
Beaufort, South Carolina

Year Acquired
Year Sold
Number of Units
Hold Period
2.5 years


In 2018, Buligo Capital Partners acquired the land for the development of Waterleaf at Battery Creek, a Class A residential community situated in Beaufort, SC. The fast-growing, high barrier-to-entry coastal community offers easy access to interstate highways, major employers, along with a variety of retail and entertainment options.

The development, which includes nine ‘garden-style’ residential buildings, one ‘carriage house’ residential building with garage parking, and one clubhouse building, features waterfront views, best-in-class amenities, and superior interior unit finishes.


The property is within a short distance to local military and employment hubs, grocery-anchored shopping centers, public beaches, schools, and Beaufort’s historic downtown area. In addition, it is strategically located between the cities of Savannah, GA and Charleston, SC, a popular tourism corridor in the Hilton Head Island-Bluffton-Beaufort Metropolitan Statistical Area (MSA).

The location is accessible to nearby employment opportunities at Beaufort Memorial Hospital, University of SC–Beaufort, and Marine Corps Air Station. In addition, Savannah, GA is a 35-mile drive from the site and home to over 40,000 jobs, led by companies such as Gulfstream Aerospace, Georgia Pacific, Savannah-Hilton Head International Airport, and the Port of Savannah.


Development began in early 2019 and the first set of units were delivered in Spring 2020. Lease-up and stabilization occurred within just one year, after which the decision was made to sell the asset. Sold after only 2½ years of purchase, the investment was realized several years earlier than originally projected and with a substantially higher IRR than anticipated.

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