Having just completed lease-up to stabilized occupancy, the property is set for immediate FY1 rent growth potential through first generation lease tradeouts. Recent new tradeouts of $135+ and 6.4% clearly demonstrate a path to significant rent growth and set the stage for new ownership to capture the ~$100/unit gap between in-place and market rents. Further, the ability to add fenced yards to 87% of units at a proven premium of $150 will create additional material upside.

In a submarket that is coveted by young families but dominated by conventional apartment product, the townhome community offers a superior alternative — private single-car garages and a flexible ground-floor suite with full bath that functions as a home office or additional bedroom. The 2BR and 3BR floor plan mix directly targets the young families, remote workers, and pet owners driving West Ashley’s population growth, while marsh-front views on select units create a premium tier with no apartment-style equivalent in the corridor.

The median home price in West Ashley $670,000, equating to all-in monthly expenses of $5,000+ per month — more than double this property’s current average in-place rent. A $2,800+ monthly home ownership premium keeps the region’s growing workforce firmly in the rental pool, providing a durable structural tailwind for occupancy and rent growth at well-located townhome product.

Charleston County broke ground in March 2025 on the fully funded flyover interchange at US-17 and Main Road — a notorious commuter bottleneck that regularly stacks up wait times during peak hours. With completion slated for 2028, this project will free-flow conditions for 30,000 daily vehicles, unlocking strong demand and pent-up rent for Reve on the Creek in FY2-FY3.

Across the West Ashley & Johns Island submarkets, just 341 townhome units are currently in the pipeline which represents only 2.1% of total inventory in these relevant submarkets. Most notably for Reve on the Creek, West Ashley itself has zero townhome units in the pipeline — and pervasive wetland and flood zone constraints limit future development.