Columbia, South Carolina – South Coast Property Investments, alongside Charlotte-based Abacus Capital, has secured $62 million in equity and debt financing for the Burnside Farms Apartments project. This 308-unit, Class A multifamily community will break ground next month in Columbia, S.C. The financing was organized by Walker & Dunlop’s Capital Markets team, led by Jamie Butler, Cliff Ayers, Michael Bowles, and Jason McFadden.
Spanning nearly 19 acres, the apartment complex represents the initial phase of a three-part, 34-acre mixed-use venture by South Coast Property Investors. Headquartered in Hilton Head Island, S.C., the firm specializes in mixed-use and multifamily developments across the southeastern U.S. Phase two will introduce roughly 3 acres dedicated to retail or dining establishments. Phase three will feature a second multifamily complex, but specific plans for the 12.5-acre segment are yet to be revealed. According to the company’s website, construction on phase three will only commence once the first apartment community is completed.
Both residential communities, along with the commercial area, will occupy part of the 155-acre Burnside Farms master-planned development. The broader site also includes standalone homes and commercial establishments like CVS, Walgreens, and Tractor Supply
Growing housing demand
The multifamily property will feature a mix of affordable and market-rate studios, one- and two-bedroom apartments, as well as two- and three-bedroom townhomes. The development will offer resort-style amenities.
Situated at the intersection of Cliff Kinder and Pineview Roads, the property enjoys immediate access to Garners Ferry Road, a key route leading into downtown Columbia, which is about 7 miles away. Major highways like Interstates 77, 26, and 20 are also easily reachable, providing convenient connections for residents.
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Walker & Dunlop noted that this new apartment complex will help accommodate rising housing demand, spurred by recent job announcements from nearby Pineview Industrial Park—a 655-acre speculative master-planned development—and the new Scout Motors Inc. manufacturing facility. In February, Scout Motors broke ground on a $2 billion electric vehicle manufacturing plant, set to create around 4,000 jobs. The 1,600-acre site aims to begin producing electric vehicles by late 2026, with sales of trucks and SUVs to follow shortly. The facility is bordered by I-77 and Blythewood Road in Blythewood, S.C., roughly 20 miles north of Columbia.
