The massive Grande Dunes development, which brought a new level of luxury in Myrtle Beach when it debuted about a decade ago, has been sold to a N.C.-based company that aims to continue on developer Burroughs & Chapin Co. Inc.â€™s vision.
LStar Management of Raleigh, N.C., closed the deal Friday to buy the 2,200-acre development that spans from the oceanfront to west of the Intracoastal Waterway.
The deal includes the Memberâ€™s Club and its 18-hole golf course; the Ocean Clubâ€™s 25,000-square-foot oceanfront clubhouse, restaurant and pool complex; the Tennis Clubâ€™s 10 tennis courts, clubhouse and fitness center; the 131-slip Grande Dunes Marina and the waterfront Anchor Cafe.
The deal also includes 770 acres of vacant land for future residential and commercial development, most east of the Intracoastal Waterway. The deal did not include the public Resort Golf Course, which B&C still owns, or the Marriott and Marina Inn.
The size, location and reputation of Grande Dunes made it appealing to LStar, a real estate investment firm specializing in residential and commercial development. This is LStarâ€™s first property in Myrtle Beach.
Source: Myrtle Beach Online – Dawn Bryant