Seafields, Kiawah’s Only 62+ Life Plan Community, Secures Long-term Financing – Construction to Begin in September 2023

KIAWAH ISLAND, S.C., July 2023 – Kiawah Life Plan Village (“KLPV”) and BRP Senior Housing Management, LLC (“Big Rock Partners”) announced that they have secured construction funding and closed on the final round of bond financing to enable construction of Seafields at Kiawah Island, the first of its kind luxury life plan community in the Kiawah and Seabrook Island area. With over $215M of investment committed, construction is slated to begin in September 2023.

“We are thrilled to be bringing this concept to fruition and moving forward with the next steps in the building process. Housing for seniors is becoming an increasing priority as demographic shifts bring additional 65+ residents to the Sea Islands (Johns, Kiawah and Seabrook) and we are excited that Seafields will help fill that need,” said Todd Lillibridge, Chairman, Kiawah Life Plan Village (KLPV).

Driven by the demand for elevated senior housing and healthcare in sought-after areas, Seafields is the only luxury 62+ Life Plan Community located near Kiawah (named one of the best US islands in July 2023 for the 10th consecutive year by Travel + Leisure World’s Best Awards) and Seabrook Islands, and a short distance from downtown Charleston, SC (ranked America’s favorite city for the 11th year in a row – and one of the 25 best cities in the world – in July 2023 by Travel + Leisure World’s Best Awards). It is also within walking distance to Freshfields, the stylish outdoor pedestrian village offering some of the area’s best-loved shopping and culinary destinations. Seafields will have 89 independent living residences with distinctively spacious floor plans as well as accommodating assisted living apartments and 24/7 nursing staff. Residents will enjoy a maintenance-free and all-inclusive lifestyle featuring immersive experiences, exclusive partnerships, and high-end amenity and concierge services along with discounts on future healthcare needs guaranteed by the lifecare contract.

“With the ever-increasing need for communities in the 62+ age group, Seafields will provide luxury living and world-class health care to residents. Bringing this project to fruition with Big Rock Partners has been rewarding and we look forward to welcoming Seafields residents to Kiawah. They will undoubtedly be a vital part of the community,” said Chris Randolph of South Street Partners, master developer of Kiawah Island.

Seafields at Kiawah Island is almost fully reserved, with only 20 residences remaining. The deposit to lock in an opportunity to live the Kiawah lifestyle in perpetuity is 100% refundable until the Community opens. Those interested can schedule an appointment to speak with Kiawah Island Real Estate before pre-construction pricing ends on September 1, 2023. Construction is slated to be completed by the fall of 2025.

On the Horizon: MUSC Health Kiawah Partners Pavilion

The nearby MUSC Health Kiawah Partners Pavilion, slated for an opening in 2025, will offer primary and specialty care services, in addition to emergency care for Seafields residents. South Street Partners donated a $6 million parcel of land to MUSC to meet this identified need for medical services in the Sea Islands and bring a world-class emergency medical facility for those in the community. South Street Partners was honored to make this investment as this partnership will bring vital emergency and senior healthcare to the Sea Islands.

About BRP Senior Housing Management, LLC

Big Rock Partners, Seafields’s developer, is a real estate development and investment firm focused on seniors housing. The team is dedicated to building and operating the next generation of luxury housing and amenities for seniors with dependable healthcare services in place for the future. All our properties are built and operated to promote productive and sustained wellness, highlight culinary excellence, utilize smart technology and implement technology services to residents, and provide an engaging selection of sophisticated and intellectual entertainment and social experiences. The management team at Big Rock has skills and experience in all aspects of seniors housing development and operation as well as in capital markets, investment, and real estate development. bigrockpartners.com

About Seafields at Kiawah Island

Seafields at Kiawah Island is the first 62+ luxury Life Plan Community at the renowned resort island. Driven by the demand for elevated senior housing and healthcare in sought-after areas, the $180M facility will feature immersive experiences, exclusive partnerships, distinctively spacious floor plans, high-end amenities, and a first of its kind in-house medical clinic operated by the Medical University of South Carolina. Boasting enviable proximity to Charleston, the Lowcountry’s best beaches – and walking distance to Freshfields, the stylish outdoor pedestrian village offering some of the areas best-loved shopping and culinary destinations – Seafields reimagines the scope of luxury retirement living in an amenity-rich environment. Seafields.com

About South Street Partners

South Street Partners, one of the largest owners and operators of private residential club and resort communities in the United States – including Kiawah Island, Palmetto Bluff, The Cliffs, Naples Grande, Barnsley Resort and Residences at Salamander – is a private equity real estate investment firm headquartered in Charlotte, NC and Charleston, SC. Founded in 2009, South Street, on behalf of SSP GP Fund I, their institutional joint venture partners and co-investment vehicles, has deployed over $1 billion of equity across resort, residential and commercial properties and has over $2 billion of assets under management. South Street acts as a principal investment platform as well as an operating partner and co-investor for institutional partners interested in special situations, opportunistic and value-add real estate investments in the Southeast and Sun Belt regions as well as other select continental US and International markets. SouthStreetPartners.com

About Kiawah Island Real Estate

Kiawah Island Real Estate is the sole real estate brokerage with offices on Kiawah Island, exclusively focused on Kiawah Island properties. Their decades serving buyers and sellers of Kiawah’s properties have made the team of over 50 full-time sales executives and marketing professionals the undisputed authority on the Kiawah Island real estate market. As a premier luxury resort community for high-net-worth individuals, Kiawah is a coveted primary and secondary home destination boasting exceptional single-family residences, villas, cottages and homesites, many with views of the Atlantic Ocean, the Kiawah River, and the surrounding marshlands. Since 1976, they have sold over $8B worth of Kiawah Island real estate. KiawahIsland.com