American investment management and real estate development company Material Capital Partners (MCP) has commenced construction on a new 82-unit townhome build-for-rent community, named 'Indigo Cove', in Bluffton, South Carolina, US.  

Concurrently, the company has secured $30m in financing to support the project. 

This financing was facilitated through contributions from Stanton Road Capital (SRC), Bluerock, and MCP's institutional construction lender.  

SRC founder and managing partner Tim Ronan added: “SRC is very positive on the build-for-rent residential trends in the Southeast [US] and we look forward to MCP delivering a best-in-class community in Bluffton.” 

Indigo Cove, occupying 24 acres of land near Buck Island Road and Bluffton Parkway, is strategically located just two miles from the historic Old Town Bluffton. 

It is set to provide three-bedroom, upscale living options in a region with high housing demand. 

These include stainless steel appliances, quartz countertops, built-in home-office nooks, upgraded hard-surface flooring, and walk-in showers in the primary bedroom suites. 

Residents of Indigo Cove will also benefit from a range of community facilities such as pocket parks, a 'bark park', wooded nature trails, and a clubhouse equipped with co-working space and a fitness centre.  

The location offers the allure of South Carolina's Low Country, with proximity to Hilton Head Island and Savannah, Georgia. 

Greystar will oversee property management for Indigo Cove, with preleasing expected to commence in early 2025.  

Winchester Commercial Group has been appointed as the dedicated builder partner for the construction phase of the project. 

MCP stated that the target demographic for its build-for-rent communities includes families, young adults, and empty-nesters who value privacy, flexibility, proximity to work, and premium amenities in a professionally managed setting.