Drapac Capital Partners

We’re proud to announce our partnership with premier active adult homebuilder Del Webb (NYSE: PHM) in the north phase of our master planned community Ocean Isle Palms. Del Webb is the gold standard for active adult communities in the U.S., and “Del Webb at Ocean Isle” will include approximately 750 homes and state-of-the-art, age-targeted amenities at build-out. Del Webb is a critical anchor of the Ocean Isle Palms master plan, and their component will be perfectly positioned to capitalize on Brunswick County’s exploding retiree population. There are notable synergies between Del Webb and our Phase 1 builder partner (Toll Brothers), and we’re excited to advance discussions with other potential homebuilding partners on Ocean Isle Palms’ future phases to keep building on the momentum we’ve established in recent months. Please visit our updated website (www.oipnc.com) for more information. https://lnkd.in/ewQPdqdR

Excited to see the progress of our master planned community NorthShore, located along the St. Mary’s River in Camden County, Coastal Georgia. This 629-home community at build out includes a market-leading, resort-style amenity package including a 3,400 sqft clubhouse, boat launch, floating dock, observation deck, playground, and passive recreational/sports fields.   NorthShore is a classic Drapac investment play: we identified a prime asset in an undervalued growth market, acquired it for a fraction of the infrastructure value, and added significant value during the hold period by undertaking thoughtful and strategic initiatives to restore and improve the community.   A critical piece of our investment strategy has been to bring in multiple homebuilding partners including 1) Century Communities (NYSE: CCS), 2) Maronda Homes, and 3) Smith Family Homes. This approach has resulted in tremendous success for both the builders and overall community; builders are seeing strong absorption and price growth, and the community is appealing to a wider audience with a range of products and price points.   Camden County is experiencing significant growth due to shifting demographic factors (+8% population and +26% household income growth over the last 5 years) and the expansion of regional economic drivers, which has translated directly to increased demand and home sale prices (+64% over the last 5 years). https://lnkd.in/dKTubEn9

We are proud to officially launch the re-envisioned Ocean Isle Palms, our 967-acre master planned community located south of Wilmington in Brunswick County, NC. Construction of the community’s main entrance is underway, and we’ve selected leading national homebuilder Toll Brothers (NYSE: TOL) as our partner in the first residential phase (first homes expected in Spring 2025). At completion, the project – once a victim of the Great Recession that we acquired out of bank foreclosure – will include approximately 1,100 homes + a mix of multifamily and BTR, hospitality, commercial, and retail. We placed a large bet on Brunswick County’s potential by acquiring over 3,900 acres of land in this market after the downturn, and its recovery has surpassed all expectations (+37% population, +57% median income, and +68% median home price growth over the last 10 years).   Ocean Isle Palms’ scale and product mix make it perfectly positioned to capitalize on this explosive growth and the region’s emergence as a top retirement destination. We believe that truly great communities are not the result of chance; they are the outcome of deliberate strategy and thoughtful planning. Ocean Isle Palms is the epitome of this investment and development approach and will reset the standard for master planned communities in this region. https://lnkd.in/ecpp9GTr

The Coves at Lake Wylie is a "shovel ready" project and truly special given it's scale and irreplaceable zoning in Charlotte, an explosive growth city. We are proud of the product that has been designed and thank our consultants and partners. https://lnkd.in/e34nieVn

The Coves at Lake Wylie is a "shovel ready" project and truly special given it's scale and irreplaceable zoning in Charlotte, an explosive growth city. We are proud of the product that has been designed and thank our consultants and partners. https://lnkd.in/e34nieVn

The Coves at Lake Wylie is a "shovel ready" project and truly special given it's scale and irreplaceable zoning in Charlotte, an explosive growth city. We are proud of the product that has been designed and thank our consultants and partners. https://lnkd.in/e34nieVn

Heyward Point's original investment strategy identified the unique underlying value of the land and limitless high-end potential of the community. Demand for assets capable of achieving high price point homes is expanding rapidly, and our conviction regarding Heyward Point's potential turned out to be right. https://lnkd.in/eBPGW5AE

We have an exciting opportunity at Drapac! For more information on the Associate General Counsel role, please contact samantha@drapacgroup.com.

Twin Rivers was purchased at a low-basis in an unloved market that has since experienced an explosion of key demand drivers. This has turbo-charged house and land values, and supply has simply not been able to keep up. Another example of our investment thesis playing out, and we are pleased with the return metrics of this transaction. https://lnkd.in/ecRuiHfm

The Drapac team is expanding!   We are looking to add a seasoned construction professional with extensive experience in infrastructure & horizontal land development to be our “boots on the ground” and manage our active development projects. The role will provide project oversight via remote & on-site monitoring, manage contractor & consultant relationships, and drive successful outcomes via budget & timeline management.   For more information, please email your resume to Samantha Adams, Senior Director – HR & Operations at samantha@drapacgroup.com.