Middleburg Communities (“Middleburg”), a leading developer of rental housing throughout the Southeast and Sunbelt announced that it has secured construction financing for Mosby Barclay West, a 290-unit Class A apartment community in Wilmington’s rapidly growing Midtown market.
The development represents a joint venture partnership with Cincinnati-based Eagle Realty Group and marks Middleburg’s third development in Wilmington since 2021, following the successful completion of another Class A multifamily community, Mosby Riverlights, and Hamlet Barclay West, a 280-unit build-to-rent neighborhood currently under construction and delivering its first units in Spring 2025.
Both communities will benefit from walkable access to The Pointe at Barclay, a thriving retail and entertainment destination featuring 150,000 square feet of space anchored by The Pointe 14 Theatre and numerous dining options. The property offers excellent connectivity to major employment centers, with Downtown Wilmington, UNC Wilmington, and the region’s beaches all accessible within 15-20 minutes.
Wilmington has emerged as the fastest-growing rental market in the country since 2020, with the number of renter households increasing by 25.2% from 2020 to 2023, according to data from RealPage Market Analytics. This remarkable growth underscores the strong demand for rental housing in the area.
“Wilmington’s economic success and population inflows over the years have resulted in robust demand for high-quality rental communities like Mosby Barclay West,” said Spencer Merritt, Development Partner for the North Carolina region at Middleburg. “Our investment in Wilmington reflects our strategy of expanding our presence in fundamentally strong Southeast markets with above-average job and population growth and sustained rental demand. By strategically positioning the project within the Barclay West master plan, it will be part of a vibrant, connected community that meets the evolving preferences of today’s renters.”
Mosby Barclay West will offer a variety of one, two and three-bedroom floorplans across five residential buildings, all with elevator access and conditioned corridors. Residents will enjoy modern interiors with hard stone countertops, stainless steel appliances, shaker cabinets, tile backsplashes, in-unit washers and dryers, and luxury vinyl plank flooring. The community will provide an extensive array of amenities, including a clubhouse with a resort-style pool and fitness center, a dedicated dog park with a pet spa, and convenient features like electric vehicle charging stations, 24/7 package reception, and collaborative co-working spaces.
Middleburg is a fully integrated rental housing firm focused on the development, investment, construction and management company operating in the southeastern and mid-Atlantic United States. Since 2004, Middleburg has acquired and developed more than 30,000 apartment units, executing approximately $4 billion in transactions. The Middleburg team shares a vision for greater value creation through community impact. The firm’s success is rooted in a genuine desire to serve its local communities in thoughtful and holistic ways. Middleburg embraces people, property, and partnerships to enhance the lives of others, contribute positively to its neighborhoods and maximize real returns for partners.
