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About Us

CX-41268_Capital Asset Development

Capital Asset Development

Capital Asset Development and its building partners have been building locally in the Coastal Carolinas for over 20 years. We specialize in unique projects, luxury properties, boating communities and waterfront properties. 


Capital Asset Properties

Capital Asset Properties is an expert team in residential land development, construction, and real estate investments. We invest in local coastal Carolina communities from Myrtle Beach to the Outer Banks.

Meet the Team


Jim Magill, Managing Partner

Capital Asset Development LLC
New York, NY

Jim has over nineteen years of investing and finance experience. He began his career at CIBC Oppenheimer, where he was one of the youngest to attain the title of Managing Director. He subsequently co-founded Merlin Institutional Group, whose parent company, Merlin Securities, sold to Wells Fargo in 2012. Currently, Jim is a Managing Director at RS Energy Group, a Warburg Pincus portfolio company. Jim is an active investor in real estate, engaging in numerous transactions a year. His real estate investments encompass multifamily, and vacation rental value adds opportunities and grounds up development, construction lending, and land banking. He graduated with a degree in finance from Central Connecticut State University.



In House Builder

Mr. Spivey has over 28 years of experience in the real estate market. He started early in his career as a carpenter and, over time, progressed to building his own houses. He has operated locally as a custom and spec home builder for over 23 years. Mr. Spivey has engaged across various sizes and price points, ranging from small multifamily developments to large high-end custom homes. He graduated from NC State in 1991.



In House Builder

Mr. Ottaway started at an early age in the building community. He began his career as a rough and fine carpenter at age 16, immersing himself with residential construction for 10 years until receiving his general contractors license at age 26. Garrett is a qualified commercial and residential general contractor in 13 states practicing in North Carolina. As a third generation builder in the region, he has built homes at every echelon, from single story spec homes, multi family residences to beachfront custom homes.



Surveyor, Subdivision, Site Planning and Permitting

Charles F. Riggs has been surveying Eastern North Carolina since 1987. Mr. Riggs is experienced in various development areas, including surveying, land planning, subdivisions, major/minor CAMA applications, and state/local permitting, among others. Mr. Riggs has worked in virtually every real estate development sector, including commercial, multifamily, and single-family developments of all sizes.



Drafter/Design and Project Oversite

Mrs. Henderson has over 8 years of experience with CAD drafting and design. She also holds a valid NC GCs license, which gives her a thorough understanding of the residential building code. She also has 5+ years of experience with the VA and HISA home renovation programs. She serves as an on-site oversite capacity and conducts construction inspections.



Partner and Head of Funding,
CAP Holdings LLC – Wilmington NC

Mr. Plaford has a cumulative 24 years of investing experience across numerous asset classes, including real estate (income-producing and development), structured products, distressed/restructuring, fixed income (public and private), debt/equity derivatives, and equity. Mr. Plaford is currently a managing partner for Capital Asset Properties Holdings LLC, a group of funds specializing in real estate investment. Mr. Plaford spent the prior 15 years as an institutional investor, managing AUM’s exceeding $2bill. He received a Bachelor of Science in Finance from Indiana University Kelly School of Business and is a Chartered Financial Analyst (CFA) charter holder.


Sara Hagwood

Project Coordinator

Sara Hagwood coordinates home building projects for Capital Asset Development. Her experience in design, home building and marketing contribute to the company’s client care, communication, and production excellence.

Sara is a North Carolina Native and graduate of NC State University School of Design.