Cushman & Wakefield announced that the real estate services firm served as the exclusive advisor to SR Real Estate Partners and Circle Squared Alternative Investments in the procurement of $62,000,000 in construction financing for The Village at Compass Pointe, a 268-unit luxury SFR townhome and rental development community located in Leland, North Carolina. The loan was provided by Dwight Mortgage Trust.
A Cushman & Wakefield Equity, Debt & Structured Finance team of Gideon Gil, Zachary Kraft, Sebastian Sanchez and Dale Braverman represented the borrower in the transaction.
“We are thrilled for SR Real Estate Partners and Circle Squared Alternative Investments’ successful financing for what will be a best-in-class multifamily community,” said Gil. “This milestone marks a significant step towards fulfilling the growing demand for high-quality housing options in the Wilmington submarket.”
The approximately 25-acre site will feature 140 single-family rental townhomes and 128 traditional rental units across two four-story elevator buildings. Units will feature modern kitchens, spa-like bathrooms and in-unit washers and dryers. Upon completion, the property will feature several resort-style amenities, including two clubhouses, cabana pools and pickleball courts. The first units are expected to be delivered in January 2025.
The property is located at the gateway to the prestigious Compass Pointe golf community in Leland, North Carolina and within a 30-minute drive to three of North Carolina’s premiere beaches and boardwalks. Downtown Wilmington is located within a 15-minute drive, offering access to a number of retail, dining and entertainment options.