Print
Real Estate - Residential

Compass Pointe Rental Home Project Secures $62M In Financing

By Staff Reports, posted Aug 17, 2023
The Village at Compass Pointe is an apartment and townhome community coming to Leland. (Rendering courtesy of Cushman & Wakefield)

A rental home community in Leland received $62 million in construction financing, according to a news release.

Officials with real estate firm Cushman & Wakefield recently announced the company served as the exclusive advisor to SR Real Estate Partners and Circle Squared Alternative Investments in the procurement of the financing for The Village at Compass Pointe, a 268-unit luxury rental community in Leland.

The loan was provided by Dwight Mortgage Trust, the release stated.

The Village at Compass Pointe's 25-acre site will feature 140 single-family rental townhomes and 128 apartments in two, four-story elevator buildings.

"Units will feature modern kitchens, spa-like bathrooms and in-unit washers and dryers," according to the release. "Upon completion, the property will feature several resort-style amenities, including two clubhouses, cabana pools and pickleball courts."

The first units in the development, which is located at the gateway to master-planned community Compass Pointe, are expected to be delivered in January 2025.

A Cushman & Wakefield Equity, Debt & Structured Finance team of Gideon Gil, Zachary Kraft, Sebastian Sanchez and Dale Braverman represented the borrower in the transaction, according to the release.

Gil said in the release, "This milestone marks a significant step towards fulfilling the growing demand for high-quality housing options in the Wilmington submarket."

Ico insights

INSIGHTS

SPONSORS' CONTENT
Screenshot2022 01 06at338 162234623

Block Eatz Unlocking Value for Local Food Entrepreneurs and Communities

Girard Newkirk - Genesis Block
Headshotrosaliecalarco 1182131047

Medicare and Tech Support Scams Are On the Rise

Tommytaylor ceo unitedway

How Philanthropy Fits Into Your Financial Plan

Tommy Taylor - United Way

Trending News

'Landing That Big Fish': With $19M Land Purchase, Brunswick Officials Aim To Lure Employers

Emma Dill - Sep 19, 2023

A Local Landmark's Restoration Boosted By National Grant

Cece Nunn - Sep 18, 2023

CFCC Expands Apprenticeship Programs, Builds Employer Support Network

Jenny Callison - Sep 18, 2023

Green Named COO Of Boys & Girls Clubs Of Southeastern NC

Staff Reports - Sep 19, 2023

Coburn Assigned To Sales Of New Homes At Wyndwater

Staff Reports - Sep 19, 2023

In The Current Issue

Spotlighting This Year’s MADE Awards

The purpose of the awards is to draw attention to manufacturers and makers in the Cape Fear region....


Startup Banks On User Needs

The fundraising from the company’s seed round, which was announced in late August, is just the latest multi-million-dollar capital fundraisi...


Study: Tourists Spend Billions In Area

In New Hanover County alone, domestic and international visitors to and within the county spent nearly $1.06 billion last year....

Book On Business

The 2023 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.

Order Your Copy Today!


Galleries

Videos

2023 Power Breakfast: Major Developments