Hybridge Capital Management, a Los Angeles-based investment firm focused on commercial real estate and technology, has acquired two Myrtle Beach, SC, hotels, Sand Castle North and Sand Castle South Beach, in an off-market transaction.
The company intends to revitalize both hotel sites and other assets in the portfolio over the course of the next three years.
“Myrtle Beach is seeing a substantial amount of development and growth due to its affordable cost of living and hospitable beach-town lifestyle,” said Max B. Mellman, managing partner, Hybridge Capital Management. “Our goal is to further propel this growth and create a greater sense of place within the community.”
The seller, City of Myrtle Beach, and Hybridge Capital Management were represented by Rusty Helms and Keystone Commercial.