S3 Capital Enters South Carolina with a $30 Million Multifamily Construction Loan

Features February 27, 2026| | Amy Wolff Sorter

S3 Capital expanded its presence in the southeast with a $29.75 million construction loan to support the 152-unit Liva Travelers Rest in South Carolina. The New York City lender issued its first Palmetto State loan to developer Clear Mountain Properties, which is headquartered in Greenville, SC.

Site work has commenced on the property at 208 Tubbs Mountain Road in the city of Travelers Rest, which is situated north of Greenville. Completion is scheduled for 2028.

Several fundamentals supporting the project appealed to S3 Capital, according to Steven Jemal, the company’s Managing Director of Origination. “This was our first transaction with Clear Mountain Properties, and it was a pleasure to work alongside a team with deep roots in the Carolinas,” Jemal told ApartmentBuildings.com. “Their local market expertise and development experience are qualities we prioritize in a sponsor.”

Jemal, who led the transaction, also explained that Travelers Rest is experiencing strong population growth, rising household incomes, and a diversified employment base. Additionally, “the city’s proximity to downtown Greenville and connectivity to Charlotte further enhances this project’s appeal,” he said. Greenville’s population grew by 15% between 2020 and 2025, while an influx of higher-earning residents supported a 4.4% year-over-year effective rent growth throughout the metro’s surrounding submarkets.

Additionally, Travelers Rest is across the border from North Carolina, where S3 Capital already has a presence. The company provided $95 million in financing to build the 295-unit Seventeen Hundred on East at 1701 East Blvd. in Charlotte’s Dilworth neighborhood.

In all, S3 Capital continues to see attractive long-term multifamily demand across the Sunbelt, particularly in the Carolinas. “We view the region as offering compelling long-term multifamily demand drivers, supported by in-migration and economic expansion,” Jemal said. “This financing transaction reflects a continuing demand for well-capitalized, relationship-driven construction financing in growth markets such as the Carolinas.”

Upon completion, Liva Travelers Rest will consist of five three-story buildings and seven two-story buildings, offering 120 multifamily units and 32 townhomes with one-, two- and three-bedroom layouts. On-site amenities will include a resort-style pool, clubhouse, fitness center, fire pit, dog park and bike barn.

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S3 Capital Enters South Carolina with a $30 Million Multifamily Construction Loan

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Brokers

Remax Professionals

Jared Ennis

Rick Recckio

Eamonn McConnell

Lenders

Management

Essex Property Trust, Inc.

Josh A

Bob Tuteur

Andrew Schildcrout