LRT Company Launches $21 Million DST Investment for Multifamily Development Near Hilton Head Island
LRT Company, a real estate investment and land acquisition firm specializing in land entitlement strategies, ground lease financing, and 1031 exchange investment opportunities, has announced the launch of its latest Delaware Statutory Trust (DST) offering. Known as LRT Hardeeville Multifamily 1 DST, the investment vehicle seeks to raise $21 million in equity and is designed to provide accredited investors with access to a ground-leased multifamily development opportunity in one of the Southeast’s fastest-growing regions.
The new offering marks the company’s fifth Delaware Statutory Trust focused on properties that are ground leased for future development. According to LRT Company, its previous four DST offerings reached full subscription, reflecting continued investor interest in land-backed real estate strategies and alternative investment structures.
The private placement is being offered under Rule 506(c) of Regulation D and is available exclusively to verified accredited investors. As an all-cash investment structure, the DST is intended to provide investors with exposure to a long-term real estate asset while supporting the development of new housing in a rapidly expanding market.
At the center of the offering is approximately 17 acres of undeveloped land located in Hardeeville, South Carolina. The property has been placed under a 50-year triple-net ground lease agreement, a structure commonly used in commercial and multifamily real estate that transfers many property-related expenses and responsibilities to the tenant while providing predictable income characteristics for landowners.
Under the terms of the development plan, LRT Development is expected to design, develop, and construct a 216-unit multifamily residential community on the site. The project is planned to include modern apartment residences along with a clubhouse and business center intended to serve future residents.
As with all development projects, the proposed construction remains subject to customary approvals, financing arrangements, permitting processes, and other conditions. Company representatives emphasized that development plans involve a variety of risks, including entitlement challenges, construction costs, market fluctuations, financing conditions, and regulatory approvals.
The property occupies a strategic location within the growing Hardeeville market. It sits adjacent to Coastal Carolina Hospital and is positioned near additional healthcare facilities, schools, churches, transportation routes, retail centers, restaurants, and various community services. These surrounding amenities are expected to support residential demand and enhance the attractiveness of the future multifamily community.
Lawrence LaBonte, Founder and Chief Executive Officer of LRT Company, described the offering as an opportunity to participate in addressing the increasing need for quality rental housing in the region.
According to LaBonte, the greater Hilton Head Island area continues to attract new residents, creating sustained demand for modern multifamily housing options. He noted that population growth throughout the region has contributed to a tightening housing market and increased need for new residential developments capable of serving both workforce and lifestyle-driven migration trends.
The Hardeeville multifamily project forms part of a much larger master-planned development known as Island Gateway. Located near Exit 8 along Interstate 95, Island Gateway encompasses approximately 82.6 acres and is currently under development by LRT Development.
Upon completion, the master-planned community is expected to feature a diverse mix of residential, senior living, retail, and commercial uses. Plans currently call for approximately 600 multifamily residential units distributed across the development, creating a substantial new housing supply within the area.
In addition to multifamily residences, Island Gateway is expected to include a continuum-of-care senior living campus designed to accommodate residents through various stages of retirement and healthcare needs. The project also includes plans for approximately 100,000 square feet of retail and self-storage space, creating a mixed-use environment intended to support both residents and surrounding communities.
The multifamily DST offering represents one component of LRT’s broader development activities. Through its development division, the company currently maintains an active pipeline of projects valued at approximately $150 million across the southeastern and northeastern United States.
Hardeeville itself has emerged as one of South Carolina’s fastest-growing communities in recent years. Located just north of the Georgia border and within close proximity to Savannah, Georgia, the city forms part of the Hilton Head Island–Bluffton–Port Royal metropolitan area. The region has become increasingly attractive to retirees, working professionals, and businesses seeking access to coastal amenities, transportation infrastructure, and economic growth opportunities.
The local economy is supported by a range of industries, including tourism, healthcare, retail, logistics, construction, and professional services. Its location near major transportation corridors has also helped attract new residential and commercial investment.
Recent population data underscores the area’s growth trajectory. According to 2026 estimates from World Population Review, Hardeeville has experienced an annual population growth rate approaching 10 percent and has more than doubled its population since the 2020 U.S. Census. While historical growth trends do not guarantee future performance, they highlight the significant demographic changes occurring within the market.
Broader regional growth trends further support development activity. U.S. Census Bureau migration and population data identified the Hilton Head Island–Bluffton–Port Royal metropolitan area as one of the fastest-growing regions in the southern United States during the years leading up to 2020. Much of that growth was driven by migration from other states, particularly among retirees seeking favorable climate conditions and lifestyle opportunities.
The area surrounding the proposed multifamily project is also undergoing significant infrastructure and commercial expansion. Plans have been announced for more than 14,000 new homes, multiple restaurants, hotels, retail facilities, a grocery store, and a Buc-ee’s Travel Center along the Interstate 95 corridor near the development site.
Economic activity has also been boosted by major industrial investments. One of the most notable projects is the Hyundai Motor Group Metaplant America facility, a multibillion-dollar electric vehicle manufacturing campus located nearby. The project includes a large-scale battery production facility operated through a joint venture with LG Energy Solution and began operations in 2025.
Transportation infrastructure improvements are also underway, including an $825 million project to widen Interstate 95 through Jasper County. These investments are expected to improve regional connectivity, support economic development, and enhance accessibility throughout the area.
While future development outcomes remain subject to market and economic conditions, LRT Company believes the Hardeeville multifamily project is positioned to benefit from strong demographic trends, expanding infrastructure investment, and continued residential demand throughout the greater Hilton Head Island and coastal South Carolina region.
Source Link:https://www.businesswire.com/
