ANiMAL Group Acquires 270-Unit The Lorrel in Little River from Wakefield Residential; JLL's John Mikels Led Sale

Atlanta-based ANiMAL Group has acquired The Lorrel, a 270-unit garden-style multifamily community in Little River, South Carolina, from Wakefield Residential. JLL Capital Markets represented the seller in the transaction, with Managing Director John Mikels leading the sale effort, the firm announced Sept. 28, 2026.

The Lorrel, located at 3465 Sandler Blvd., was completed in 2023 and was 96% leased at the time of sale. The property comprises one-, two- and three-bedroom units averaging 879 square feet each, for an approximate rentable area of 237,330 square feet.

Property Details and Amenities

The Lorrel's unit interiors include designer kitchen backsplashes, stainless steel appliance packages, granite countertops, open-concept gourmet kitchens, wood-inspired flooring, custom cabinetry and lighting packages, full-size washers and dryers, and oversized closets. Select units feature private patios or balconies.

Community amenities include a resort-style pool with an in-water tanning ledge, a pickleball court, a 24-hour fitness center with a yoga-on-demand studio, an outdoor fire pit with fireside seating, an al fresco dining pavilion, a leash-free dog park, an on-site pet spa, a business center with private conference rooms, a game lawn, interactive courtyards and guest suites for residents.

The property sits adjacent to the recently completed North Myrtle Beach Park & Sports Complex and within Champions Crossing, a large-scale master-planned commercial and retail development. The location also provides access to Myrtle Beach's employment centers, beaches, golf courses and the Intracoastal Waterway.

ANiMAL Group's Investment Rationale

ANiMAL Group is acquiring The Lorrel through its ANiMAL Living investment strategy, which targets recently constructed, stabilized Class A multifamily communities with durable cash flow in markets with long-term demand fundamentals. The firm's current portfolio includes 665 multifamily units, 35 townhomes and 3,963 parking bays, along with a future development pipeline of 5,875 multifamily units and 650 hotel keys.

"We are very pleased with the acquisition of The Lorrel. Wakefield delivered an exceptional asset, its location is impossible to replicate — directly adjacent to the recently complete North Myrtle Beach Park & Sports Complex and at the center of Champions Crossing, a large-scale master-planned commercial and retail development," said Max Cookes, Co-Founder of ANiMAL.

"The Lorrel is a strong fit for the ANiMAL Living investment mandate, focused on acquiring institutional-grade, stabilized assets with durable cash flow in markets with strong long-term demand fundamentals," Cookes added. "Myrtle Beach continues to benefit from strong population growth and household formation trends, combined with above-average income growth, which underpins sustained rental demand and supports continued rent appreciation."

Cookes noted that ANiMAL Living is actively pursuing acquisitions in Atlanta, Charlotte, Nashville and Austin.

Market Context: Myrtle Beach MSA Growth and Supply Dynamics

JLL cited the Myrtle Beach metropolitan statistical area's population growth as a key demand driver. The MSA expanded from 351,029 residents in 2020 to more than 441,000 in 2025, a 13.6% increase, and is projected to reach nearly 471,000 residents by 2030. The U.S. Census ranked Myrtle Beach the No. 1 fastest-growing mid-sized metro area as of 2020, and Niche ranked it the No. 4 best place to retire in South Carolina in 2024.

JLL also noted that average household incomes within a three-mile radius of The Lorrel exceed $100,000, and that only one multifamily asset was under construction within 16 miles of the property at the time of sale.

Broader market data presents a mixed picture. Myrtle Beach multifamily effective rents rose approximately 1.9% year over year as of mid-2026, with annual supply growth slowing from 7.6% to 2.7%. Marketwide occupancy figures vary by source and measurement period, ranging from approximately 89.6% to 94.6%, reflecting differences in methodology and timing. The Lorrel's 96% occupancy at sale was above both of those market-level estimates, suggesting that newer, amenity-rich assets have been outperforming the broader market even as the metro absorbed a meaningful wave of recent deliveries. The Myrtle Beach area saw approximately 1,038 unit completions over the trailing four quarters through the second quarter of 2026, alongside net absorption of 1,582 units over the same period.

The property's proximity to Myrtle Beach's approximately $26 billion tourism economy, combined with Little River's position as a less congested and more affordable coastal alternative, factored into JLL's characterization of the asset's demand profile.

JLL's Perspective on the Transaction

"The Lorrel represented a rare opportunity to acquire a virtually new, institutional-quality asset in one of the Southeast's fastest-growing markets," said John Mikels, who led the sale on behalf of the seller. "Little River has emerged as an extremely attractive residential destination, offering the coastal lifestyle appeal of Myrtle Beach while maintaining a more tranquil, affordable environment. The property's 2023 construction, premium amenity package and best-in-class unit finishes position it exceptionally well to capture continued rental growth as the market matures."

"The demographic fundamentals surrounding The Lorrel are outstanding," Mikels added. "With average household incomes exceeding $100,000 within a three-mile radius and the Myrtle Beach MSA growing nearly 14% since 2020, demand for quality rental housing continues to significantly outpace supply. The limited development pipeline, with just one asset under construction within 16 miles, creates a compelling supply-constrained environment that will support strong rental rate growth for years to come."

Wakefield Residential, headquartered in Virginia Beach, Virginia, is a build-to-rent and multifamily development company formed in 2021 as an affiliate of L.M. Sandler & Sons, Inc. The firm draws on the Sandler organization's more than 30 years of land development and homebuilding experience to deliver multifamily and single-family rental communities from Virginia to Florida.

JLL Capital Markets is a global provider of capital solutions for real estate investors and occupiers, with more than 3,000 specialists in offices across nearly 50 countries.

Sources

• JLL Newsroom: Myrtle Beach-area multifamily community trades to ANiMAL Group (Sept. 28, 2026)