Flats on Front

Multifamily | Wilmington, NC

Newly built 273-unit luxury residential building in the North Waterfront District of downtown Wilmington, NC.

Investment Details

Property Type
Multifamily
Location(s)
Wilmington, NC
Number of Units/Homes
273

Transaction Details

Acquired
2021
Purchase Price
$98 million
Ownership %
100%

Investment Details

Property Type
Multifamily
Location(s)
Wilmington, NC
Number of Units
273

Transaction Details

Acquired
2021
Purchase Price
$98 million
Ownership %
100%

Newly built 273-unit luxury residential building in the North Waterfront District of downtown Wilmington, NC.

Asset Highlights

Multifamily
Tenant amenities include a uniquely designed event space and resident lounge, fitness center, saltwater pool with fountains, large sundeck equipped with lounge seating, cabanas and firepit, a dog park, a spa and a resident parking deck.
Keys
The property has high occupancy and has experienced strong leasing momentum with rent premiums.
Bedrooms
The property features 273 newly constructed one-, two- and three-bedroom luxury apartments.

Location Highlights

Highway
Location combines a fast-paced city lifestyle with the relaxing coastal experience of downtown Wilmington.
Proximity
Direct access to Wilmington Riverwalk and Riverfront Park, with proximity to Live Oak Bank Pavilion, top restaurants and other lifestyle amenities.
people
Proximity to one of the fastest-growing household markets, with above-average growth that is expected to provide strong rental rate increases.
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