MHCOMMERCIAL REAL ESTATE FUND ACQUIRES PUBLIX SHADOWED ANCHORED SHOPPING CENTER IN MYRTLE BEACH MSA FOR $4,850,000

-- NAI/Merin Hunter Codman has been retained for the management and NAI Lachicotte for the leasing of the property. --

Published Friday, September 27, 2019


West Palm Beach, Fla. RELEASE PDF MHCommercial Real Estate Fund, a real estate investment fund recently launched by principals of leading South Florida Commercial Real Estate firm NAI/Merin Hunter Codman, has announced the completion of its second acquisition, Prince Creek Village located at 11920 SC Highway 707, Murrells Inlet, South Carolina, a fast growing suburb of Myrtle Beach.

Prince Creek Village is a 92% occupied 18,000-square foot, Publix shadow anchored commercial center built in 2017. The property’s tenants include Edward Jones Financial Advisory, Tidelands Health Family Medical Center and a number of popular local restaurants. The property was purchased from Columbia Properties, Inc. for $4,850,000. LoanCore Capital provided financing for MHCommercial Real Estate Fund.

Jordan Paul, Principal of MHCommercial Real Estate Fund stated, “We are excited to close our second investment this month for MHCommercial Real Estate Fund. Prince Creek Village aligns well with our goal to invest in well located, high quality commercial properties with strong economic and demographic growth in the Southeastern United States. Prince Creek Village enjoys an outstanding location adjacent to a new Publix grocery store in one of the most affluent communities in the fast-growing Myrtle Beach metropolitan area. Our affiliation with the NAI Global network gave us outstanding insight into the local market and the property’s strong tenant base includes a diverse mix of popular local medical, financial service businesses and restaurants which will provide our investors with immediate cash flow and the opportunity to realize additional value as the area continues to grow.”

NAI/Merin Hunter Codman has been retained to manage the property and Myrtle Beach based NAI Lachicotte has been retained to lease the property.


About NAI/Merin Hunter Codman
NAI/Merin Hunter Codman, www.mhcreal.com, is one of South Florida’s leading commercial real estate firms with over three decades of experience advising clients on strategic acquisitions and dispositions and providing landlord representation, tenant representation, property management and construction management services. The firm has expertise in all commercial property sectors including office, retail, industrial, multifamily, hotels and land. NAI/Merin Hunter Codman’s client base includes some of the nation’s most prestigious institutional and private equity investors. Operating as part of the NAI Global network, NAI/Merin Hunter Codman can facilitate property transactions around the nation and the world, serving as a single point of contact for its clients’ counsel and execution. NAI/Merin Hunter Codman is headquartered in West Palm Beach, Florida with regional offices in Boca Raton, Fort Lauderdale, Palm Beach Gardens and Wellington.


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Investors

#1 Palm Beach County Board of County Commissioners Aerojet Rocketdyne Bank of America Baptist Health South Florida BB&T
Caler, Donten, Levine, Cohen, Porter & Veil, P.A. CareerSource Centennial Bank DePuy Synthes Power Tools, a Johnson & Johnson Company Engel & Volkers Palm Beach
Equestrian Center Florida Crystals Corporation FPL Greenberg Traurig Gunster
Hardrives, Inc. HCA Palm Beach Hospitals Hedrick Brothers Construction J.C. White JP Morgan Chase
LRP Publications Minto Communities, LLC NCCI NextGen Mgmt dba DxWeb Management, LLC Nova Southeastern University
Palm Beach Aggregates, LLC Palm Beach Park of Commerce PNC Bank Pratt & Whitney (A United Technologies Company) Raymond James Financial Services/Boynton Financial Group, Inc.
RSM South Florida Business & Wealth Magazine South Florida Business Journal TD Bank Tortoise Properties
Wells Fargo & Company Wexford Capital