LRT Company Launches Fifth Ground-Lease DST With $21M Hardeeville, S.C., Offering
LRT Company has launched LRT Hardeeville Multifamily 1 DST, a $21 million all-cash Delaware statutory trust offering backed by a ground-leased multifamily development site in Hardeeville, S.C.
The offering is available to verified accredited investors under Regulation D Rule 506(c). It is LRT’s fifth DST structured around a ground-leased development property; the company said its four prior DST offerings, such as LRT Coventry RI DST, were fully subscribed.
The trust holds approximately 17 acres of undeveloped land ground-leased for 50 years on a triple-net basis. Under the lease agreement, LRT Development is expected to design, develop, and construct a 216-unit multifamily community with a clubhouse and business center on the site, subject to financing, approvals, and other conditions. The property sits adjacent to Coastal Carolina Hospital near Exit 8 of Interstate 95.
The site is part of Island Gateway, an 82.6-acre master-planned community LRT Development is developing. The full buildout is expected to include 600 multifamily residences, a continuum-of-care senior living campus, and 100,000 square feet of retail and self-storage space.
“LRT Hardeeville Multifamily 1 DST represents an investment opportunity to address the surging demand for quality multifamily housing in one of the Southeast’s fastest-growing communities,” said Lawrence LaBonte, founder and chief executive officer of LRT Company.
Hardeeville lies just across the Georgia state line from Savannah and is part of the Hilton Head Island–Bluffton–Port Royal, S.C., metropolitan statistical area. The city’s population has grown more than 118% since the 2020 U.S. Census, according to World Population Review estimates, with an annual growth rate of roughly 10% as of 2026. LRT cited nearby development activity as additional context for the offering, including the March 2025 opening of Hyundai Motor Group Metaplant America, a $7.6 billion electric vehicle manufacturing facility in the area, and an $825 million Interstate 95 widening project underway through Jasper County.
LRT Company focuses on land entitlements and ground lease financing in the Southeast and Mid-Atlantic and has approximately $150 million of projects in development across those regions.
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