Bethesda, Maryland-based Buvermo Investments, a commercial real estate investment company, announced the acquisition of Inspire Coastal Grand, an active adult community in Myrtle Beach, South Carolina. The property will be renamed The Grove at Coastal Grand and stands four stories tall while comprising 194 units. The community offers residents one-, two- and three-bedroom floor plans with private balconies and patios.
Within close proximity to the beach, the community sits on nine acres and features a resort-style pool, fitness center, yoga studio, creative arts room, theater room, billiards room, dog park, outdoor courtyards, pickleball and bocce ball courts. First National Bank provided acquisition financing for this transaction. Greystar, which currently operates over 90 active adult communities, will run the operations for the community. A grand re-opening is set to take place in January 2023.
