Who is Riptide Builders?
Founded in 2009, Riptide Builders, LLC is residential home builder that works throughout coastal North and South Carolina. The company is currently building in Sunset Beach and Ocean Isle Beach, N.C. and the Carolina Forest area in Myrtle Beach, S.C. The company maintains a staff of between 15 and 20 people in Brunswick County.
Who owns Riptide Builders?
Riptide Builders, LLC is co-owned by Robert Hill and Donald Bean, both residents of Sunset Beach, N.C.
Why did Riptide make this purchase?
Robert Hill and Donald Bean both live in Sunset Beach, and Riptide has worked in Sea Trail for a number of years. Robert and Donald are committed to the community and believe that local ownership and a cohesive vision will have a positive impact on both current and future residents of Sea Trail.
How has Riptide been involved in Sunset Beach and Sea Trail?
The company maintains both an operations office and a design center in Sunset Beach and has staffed model homes in several local communities, including Sea Horse Estates within Sea Trail.
How Was This Deal Structured?
Riptide Builders Development, Inc., the parent company of Riptide Builders, LLC, is purchasing Sunrise Corporate Development Holdings, LLC. Sunrise owns the remaining undeveloped land within Sea Trail. Chinaway Corp Development, LLC owns the three Golf Courses and various commercial properties within the community.
What are Riptide’s plans for the undeveloped land?
Riptide is committed to improving upon an already great community by adding quality homes in conjunction with a high-quality land plan. The company anticipates expanding and building upon the current amenities in Sea Trail to serve the future development.
How will this affect the structure of the Homeowners Association and the board?
Riptide values the knowledge and passion of the homeowners and looks forward to establishing and maintaining a positive working relationship with residents. Sea Trail is a declarant-controlled community. As the declarant, Riptide expects to make some changes to improve the existing community as well as protect and improve its investments with future development. The company believes in constructive communication and looks forward to building mutually beneficial relationships with the homeowners.
What are the plans for the golf courses?
The current owner will maintain ownership and management of the golf courses. Because the current owners will now be able to focus exclusively on the golf courses, Riptide feels that the community should expect to see improvements on all fronts.