The Cushman & Wakefield Sunbelt Multifamily Advisory Group, in conjunction with the Equity, Debt & Structured Finance team, has been exclusively retained by Middleburg Communities (the "Sponsor") to arrange a joint venture equity investment for the recapitalization of a three-property, 932-unit multifamily portfolio (the "Portfolio" or "Properties") located in the Sunbelt. The Sponsor constructed the Properties from 2017-2020 and will have successfully leased and stabilized the assets at the time of closing. The Portfolio represents an exceptional opportunity to invest in a well-positioned, geographically diverse multifamily portfolio. The Sponsor is looking to repatriate equity and is seeking a JV partner to recapitalize the Portfolio on a 90/10 basis for an investment of approximately $66 million. The Portfolio will serve as a catalyst for the Sponsor to create a new, long-term relationship with an institutional partner.
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Mosby Portfolio (3 properties, 932 units)
Mosby Poinsett
288 Units
6001 Hampden Way
Greenville, SC  29609
Type: Conventional
Posted: 5/4/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is excited to present the exclusive listing of Mosby University City, a 309-unit newly built apartment community located in Charlotte, NC. The property is ideally situated in the University City submarket of Charlotte. This booming submarket is highlighted as one of Charlotte’s largest employment centers (~75k total employees), features 23 Fortune 500 companies, 430 Retail locations, 11M SF of office space, the University of North Carolina at Charlotte, and direct access to the Lynx Light Rail through multiple stations. The property offers large floorplans coupled with premier, luxury features, with ideal lifestyle amenities conveniently located nearby. Mosby University City presents an outstanding opportunity to invest in a newly built Class A institutional-quality asset located in a thriving submarket that offers organic rent growth through rental headroom from nearby competitors.
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Under LOI
Mosby University City
309 Units
404 Gallop Lane
Charlotte, NC  28213
Type: Conventional
Posted: 4/13/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 23-acre Navassa Road Land located in Leland, North Carolina. Situated within an opportunity zone inside the fastest growing town in NC, the site is in a prime location for new development with lenient zoning standards of 24 dwelling units per acre. Located only 4 miles from a booming downtown Wilmington, Navassa Road Land is perfectly situated to experience all that Wilmington has to offer, while Leland implements developmental changes to its infrastructure in order to capture the 73% population growth the town has achieved since 2010. The site is in the heart of Leland’s Gateway District - an area the town has prioritized for immediate infill redevelopment. Navassa Road Land is poised to benefit from upward trending demographics and continual redevelopment growth plans, including the rebranded Leland Innovation District, that will reward developers for decades to come.
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Navassa Road Land
   
Navassa Road
Leland, NC  28451
Posted: 6/8/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 252-unit Oak Ridge at Pelham apartment community located in the burgeoning Greenville, SC area. This asset is situated in the highly coveted Thornblade neighborhood characterized by an affluent and educated demographic pool as HHI’s are $115k+, 52% of people have a bachelor’s degree or higher, and 75% are white collar employees. Built in 1986, Oak Ridge at Pelham presents an outstanding opportunity to invest in an extremely well maintained asset within the thriving Greenville market distinguished by attractive multifamily fundamentals, a diminishing multifamily development pipeline and an opportunity to achieve $150 average rent premiums through a Class-A value-add 2.0 campaign.
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Under Contract
Oak Ridge at Pelham
252 Units
150 Oak Ridge Place
Greenville, SC  29615
Type: Conventional
Posted: 5/25/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 464-unit Pine Crest apartment community located in North Charleston, SC. The 42-acre site is strategically located near the eclectic neighborhood of Park Circle, offering varied dining and entertainment options, as well as the evolving Charleston Navy Base & Shipyard and easy access to I-26. As one of the few workforce housing assets in the Park Circle submarket, Pine Crest has ideal access to multiple large employers and variety among employment options. Built in 1945 and situated on 42 acres, Pine Crest offers an outstanding opportunity to invest in a value-add proposition that is strongly supported by large rent deltas with rent comparables in the market. In addition to the value-add opportunity, investors will be able to acquire 42 favorably-located acres in a dynamic and growing submarket, expected to only improve with the projected transformative construction and reuse projects planned and currently underway in the area.
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Under Contract
Pine Crest
464 Units
1920 McMillan Ave
North Charleston, SC  29405
Type: Conventional
Posted: 1/26/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the Carolinas Value-Add 5 Portfolio - five assets totaling 993 units, located in the desirable submarkets of Columbia, SC, Greenwood, SC, Florence, SC, and Greensboro, NC. The portfolio represents a significant value creation opportunity to invest in strong quality assets that have received a combined +$13.9 million in Capex across two southeastern high-growth states. Situated in bustling micro locations with high barriers to entry, these assets are poised for substantial growth with unparalleled access to a plethora of jobs, higher education, strong household income growth, and seamless connectivity to major thoroughfares. The portfolio arrives with an opportunity to perform a proven, successful value-add campaign on 56% (556) of the units. Built in 1949-1988, the Carolinas Value-Add 5 Portfolio presents an excellent value-add framework to build upon.
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Under Contract
Carolinas Value-Add 5 Portfolio (5 properties, 993 units)
Prosper Fairways
419 Units
1800 Longcreek Drive
Columbia, SC  29210
Type: Conventional
Posted: 2/24/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 22-acre, Reserve at Battery Creek Land site located in the rapidly-expanding Beaufort, SC. With the potential to build medium density residential in an unmatched location, future residents will consider this site as an opportunity to enjoy waterfront views of Battery Creek with dock access at a discount to home ownership. The Hilton Head-Bluffton-Beaufort market is seen as an attractive destination for residents fleeing larger U.S. cities with dense infrastructures, migrating towards coastal markets. These trends, which were only amplified by the pandemic, explain the market’s population surge of 58% since 2000, all while experiencing consistently strong rent growth. The property has a dock permit with a total of 192 feet of boat mooring length, making this the only multifamily site in Beaufort County that is approved for a boat dock on deep water. With site plans and permits approved, along with resubmission plans nearing the finish line, The Reserve at Battery Creek Land site offers developers a chance to takeover an opportunity with much of the heavy lifting out of the way.
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Under LOI
Reserve at Battery Creek Land
22 Acres
45 Belleview Bluff
Beaufort, SC  29902
Type: Land
Posted: 5/20/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 96-unit Spring Garden apartment community located in Greensboro, NC. This asset is strategically situated 2 miles southwest of downtown Greensboro next to the University of North Carolina at Greensboro. Built in 1991 and 1998, Spring Garden is a student run property primed for significant upside through a modern conversion of the asset’s 4BR-2BA units to highly sought-after 2BR-2BA units. This unit transformation will offer one of the largest 2BR floorplans in the submarket, coupled with high barriers to entry, limited development, and desirable demographics. Furthermore, transitioning to conventional operations will allow for improved efficiencies in leasing, occupancy, and utility reimbursements generating attractive returns for incoming investors.
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Spring Garden
96 Units
2119 Spring Garden Street
Greensboro, NC  27403
Type: Student
Posted: 6/9/2021
The Cushman & Wakefield Multifamily Advisory Group is pleased to present the exclusive listing of the Sterling 7 Southeast Portfolio - 7 assets totaling 1,624 units, located in the desirable submarkets of Atlanta, GA, Savannah, GA, Greenville, SC, Raleigh, NC, and Richmond, VA. The portfolio represents a significant value creation opportunity to invest in strong quality assets where significant Capex has already been invested. Situated in bustling micro locations across high-growth Southeastern states, these assets are poised for substantial growth with unparalleled access to a plethora of jobs and seamless connectivity to major thoroughfares. Built in 1964-1986, the Sterling 7 Southeast Portfolio presents an excellent value-add framework to build upon.
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Under Contract
Sterling 7 Southeast Portfolio (7 properties, 1,624 units)
Sterling Beaufont
312 Units
6839 Carnation Road
Richmond, VA  23225
Posted: 4/8/2021
The Cushman & Wakefield Multifamily Advisory Group is pleased to present the exclusive listing of the Sterling 7 Southeast Portfolio - 7 assets totaling 1,624 units, located in the desirable submarkets of Atlanta, GA, Savannah, GA, Greenville, SC, Raleigh, NC, and Richmond, VA. The portfolio represents a significant value creation opportunity to invest in strong quality assets where significant Capex has already been invested. Situated in bustling micro locations across high-growth Southeastern states, these assets are poised for substantial growth with unparalleled access to a plethora of jobs and seamless connectivity to major thoroughfares. Built in 1964-1986, the Sterling 7 Southeast Portfolio presents an excellent value-add framework to build upon.
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Under Contract
Sterling 7 Southeast Portfolio (7 properties, 1,624 units)
Sterling Bluff
216 Units
201 West Montgomery Cross Rd
Savannah, GA  31406
Type: Conventional
Posted: 4/8/2021
The Cushman & Wakefield Multifamily Advisory Group is pleased to present the exclusive listing of the Sterling 7 Southeast Portfolio - 7 assets totaling 1,624 units, located in the desirable submarkets of Atlanta, GA, Savannah, GA, Greenville, SC, Raleigh, NC, and Richmond, VA. The portfolio represents a significant value creation opportunity to invest in strong quality assets where significant Capex has already been invested. Situated in bustling micro locations across high-growth Southeastern states, these assets are poised for substantial growth with unparalleled access to a plethora of jobs and seamless connectivity to major thoroughfares. Built in 1964-1986, the Sterling 7 Southeast Portfolio presents an excellent value-add framework to build upon.
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Under Contract
Sterling 7 Southeast Portfolio (7 properties, 1,624 units)
Sterling Collier Hills
120 Units
1760 Northside Drive
Atlanta, GA  30318
Type: Conventional
Posted: 4/8/2021
The Cushman & Wakefield Multifamily Advisory Group is pleased to present the exclusive listing of the Sterling 7 Southeast Portfolio - 7 assets totaling 1,624 units, located in the desirable submarkets of Atlanta, GA, Savannah, GA, Greenville, SC, Raleigh, NC, and Richmond, VA. The portfolio represents a significant value creation opportunity to invest in strong quality assets where significant Capex has already been invested. Situated in bustling micro locations across high-growth Southeastern states, these assets are poised for substantial growth with unparalleled access to a plethora of jobs and seamless connectivity to major thoroughfares. Built in 1964-1986, the Sterling 7 Southeast Portfolio presents an excellent value-add framework to build upon.
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Under LOI
Sterling 7 Southeast Portfolio (7 properties, 1,624 units)
Sterling Glenwood
254 Units
3939 Glenwood Avenue
Raleigh, NC  27612
Type: Conventional
Posted: 4/8/2021
The Cushman & Wakefield Multifamily Advisory Group is pleased to present the exclusive listing of the Sterling 7 Southeast Portfolio - 7 assets totaling 1,624 units, located in the desirable submarkets of Atlanta, GA, Savannah, GA, Greenville, SC, Raleigh, NC, and Richmond, VA. The portfolio represents a significant value creation opportunity to invest in strong quality assets where significant Capex has already been invested. Situated in bustling micro locations across high-growth Southeastern states, these assets are poised for substantial growth with unparalleled access to a plethora of jobs and seamless connectivity to major thoroughfares. Built in 1964-1986, the Sterling 7 Southeast Portfolio presents an excellent value-add framework to build upon.
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Under Contract
Sterling 7 Southeast Portfolio (7 properties, 1,624 units)
Sterling Oaks
184 Units
3200 Oakwood Village Lane
Atlanta, GA  30341
Type: Conventional
Posted: 4/8/2021
The Cushman & Wakefield Multifamily Advisory Group is pleased to present the exclusive listing of the Sterling 7 Southeast Portfolio - 7 assets totaling 1,624 units, located in the desirable submarkets of Atlanta, GA, Savannah, GA, Greenville, SC, Raleigh, NC, and Richmond, VA. The portfolio represents a significant value creation opportunity to invest in strong quality assets where significant Capex has already been invested. Situated in bustling micro locations across high-growth Southeastern states, these assets are poised for substantial growth with unparalleled access to a plethora of jobs and seamless connectivity to major thoroughfares. Built in 1964-1986, the Sterling 7 Southeast Portfolio presents an excellent value-add framework to build upon.
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Under LOI
Sterling 7 Southeast Portfolio (7 properties, 1,624 units)
Sterling Pelham
422 Units
230 Pelham Road
Greenville, SC  29615
Type: Conventional
Posted: 4/8/2021
The Cushman & Wakefield Multifamily Advisory Group is pleased to present the exclusive listing of the Sterling 7 Southeast Portfolio - 7 assets totaling 1,624 units, located in the desirable submarkets of Atlanta, GA, Savannah, GA, Greenville, SC, Raleigh, NC, and Richmond, VA. The portfolio represents a significant value creation opportunity to invest in strong quality assets where significant Capex has already been invested. Situated in bustling micro locations across high-growth Southeastern states, these assets are poised for substantial growth with unparalleled access to a plethora of jobs and seamless connectivity to major thoroughfares. Built in 1964-1986, the Sterling 7 Southeast Portfolio presents an excellent value-add framework to build upon.
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Under LOI
Sterling 7 Southeast Portfolio (7 properties, 1,624 units)
Sterling Westchester
116 Units
300 Pelham Road
Greenville, SC  29615
Type: Conventional
Posted: 4/8/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the completely repositioned 97-unit Terrain at Haywood apartment community located in the bustling Greenville metro area. Terrain at Haywood is situated in a desirable pocket of Greenville characterized by its young, affluent and educated demographic base as avg. HHI’s are north of $83k with a 66% white collar population and 46% have obtained a bachelor’s degree or higher. Along with being located in the highly coveted Greenville County School District, the property is also surrounded by an abundance of high-end retail (Haywood Mall & Magnolia Point) and jobs, including 4 of Greenville County’s largest employers within a 5-mile radius. Built in 1983 and repositioned in 2018, Terrain at Haywood has undergone major renovations to both the interior and exterior ($2M+) as all units have been renovated with top-of market finishes and all common areas and amenity spaces have been thoughtfully curated and detailed with modern touches.
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Terrain at Haywood
Offers Due:  Wednesday, September 8, 2021
97 Units
48 McPrice Court
Greenville, SC  29615
Type: Condo Conversion
Posted: 8/2/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of The Bristol in Greenville, SC. The Bristol is a 258-unit community uniquely located in an affluent neighborhood that boasts impressive demographics of $120,000+ average household income, 75% white collar workers and home values as high as $1.69M in a 1-mile radius. Surrounded by high end retailers, Greenville Country Club, and across the street from Swamp Rabbit Trail (22-mile multi-use greenway), The Bristol offers an unmatched "live-work-play" lifestyle to residents. In addition to nearby amenities, the community provides direct access to 130,000+ jobs including Greenville Memorial Hospital, BMW, Fluor Engineering and TD Bank, all within a 5-mile radius. Built in 1971, The Bristol is an extremely well-maintained community that received a large capital infusion in 2013, stripping the units nearly down to the studs and repositioning the entire property. Lagging Downtown and Class A rents by $400+, new ownership has an opportunity to enhance the community by renovating unit interiors bringing finishes in-line with top of the market competitors to achieve $130-$180 rental premiums.
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Under LOI
The Bristol
258 Units
926 Cleveland Street
Greenville, SC  29601
Posted: 3/25/2021
OM AVAILABLE SOON
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present The Morris at Belmont, a proposed 322-unit apartment community development project located in Belmont, NC. The property will be ideally situated in the burgeoning city of Belmont, which is located only 20 minutes from Uptown Charlotte and has nearby proximity to Charlotte’s U.S. National Whitewater Center, Charlotte Douglas International Airport, and access to key job centers, which includes not only the new 2.5M SF Amazon facility and the Water Ridge Office Park, but also Charlotte’s integral employment nodes. In addition, the property will benefit from the proposed expansion of Charlotte’s LYNX Light Rail, which would be within walking distance of the property, as well as a Greenway Initiative that would deliver with the project, allowing for expanded pedestrian space and greenways in Belmont. The property will represent a best-in-class asset for the Belmont submarket with premier amenities and curated, luxury unit features. The Morris at Belmont offers an outstanding opportunity to invest in a new development opportunity for Class A institutional-quality product in one of Charlotte’s up-and-coming submarkets.
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The Morris at Belmont
322 Units
6900 Wilkinson Blvd.
Belmont, NC  28012
Type: Conventional
Posted: 4/1/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the Carolinas Value-Add 5 Portfolio - five assets totaling 993 units, located in the desirable submarkets of Columbia, SC, Greenwood, SC, Florence, SC, and Greensboro, NC. The portfolio represents a significant value creation opportunity to invest in strong quality assets that have received a combined +$13.9 million in Capex across two southeastern high-growth states. Situated in bustling micro locations with high barriers to entry, these assets are poised for substantial growth with unparalleled access to a plethora of jobs, higher education, strong household income growth, and seamless connectivity to major thoroughfares. The portfolio arrives with an opportunity to perform a proven, successful value-add campaign on 56% (556) of the units. Built in 1949-1988, the Carolinas Value-Add 5 Portfolio presents an excellent value-add framework to build upon.
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Under Contract
Carolinas Value-Add 5 Portfolio (5 properties, 993 units)
Village at Rankin
130 Units
3237 Yanceyville Street
Greensboro, NC  27405
Type: Conventional
Posted: 2/24/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 307-unit Villages of Chapel Hill apartment community located in Carrboro, NC. The property rents to a highly educated, affluent submarket with average household incomes of $103K and 74% of renters holding a Bachelor’s Degree or higher within a 3 mile radius. With the largest supply wave already in the rear-view mirror, growing demand of Chapel Hill paired with Carrboro’s limited supply (only 94 units delivered in the last 10 years) poises the property for consistent returns for years to come. Built in 1973/1984, Villages of Chapel Hill offers an outstanding opportunity to invest in a quality asset that has received over $975K in capital expenditures in the past 2 years, providing incoming owners with a strong value-add framework to add Washer/Dryer appliance rentals along with light upgrades to achieve 25% boost to T3 NOI.
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Under Contract
Villages of Chapel Hill
307 Units
1000 Smith Level Road
Carrboro, NC  27510
Type: Conventional
Posted: 3/18/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the Carolinas Value-Add 5 Portfolio - five assets totaling 993 units, located in the desirable submarkets of Columbia, SC, Greenwood, SC, Florence, SC, and Greensboro, NC. The portfolio represents a significant value creation opportunity to invest in strong quality assets that have received a combined +$13.9 million in Capex across two southeastern high-growth states. Situated in bustling micro locations with high barriers to entry, these assets are poised for substantial growth with unparalleled access to a plethora of jobs, higher education, strong household income growth, and seamless connectivity to major thoroughfares. The portfolio arrives with an opportunity to perform a proven, successful value-add campaign on 56% (556) of the units. Built in 1949-1988, the Carolinas Value-Add 5 Portfolio presents an excellent value-add framework to build upon.
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Carolinas Value-Add 5 Portfolio (5 properties, 993 units)
Villlage at GlenHaven
200 Units
206 New Market Street
Greenwood, SC  29646
Posted: 2/24/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 104-unit Wendover Gardens apartment community located in Charlotte, NC. Wendover Gardens is situated adjacent to the 78-acre mixed-use Eastland Mall redevelopment and within blocks from the future Lynx Gold Line stop at Eastway Drive. Convenient location to the thoroughfare of East Independence provides access to ~250k jobs within a 15-minute drive, as well as Charlotte’s most popular entertainment hubs. Built in 1972, Wendover Gardens represents an outstanding opportunity to realize rental premiums over $100, in line with what nearby properties are currently achieving in the rapidly expanding East Charlotte Submarket.
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Wendover Gardens
Offers Due:  Tuesday, August 24, 2021
104 Units
2347 Eastway Drive
Charlotte, NC  28205
Posted: 7/20/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of West End at Fayetteville, a 360-unit apartment community located in Fayetteville, North Carolina. The asset is surrounded by the region’s prominent thoroughfares, which provide residents convenient access to the plethora of retail in the immediate area as well as the largest employers in the city, including Fort Bragg. West End at Fayetteville offers investors an opportunity to invest in a strong performing asset with a proven value-add framework asking $75 rent premiums over renovated units. With a limited delivery pipeline and vacancy hovering around record lows at 2.5%, the asset is primed to capitalize on the recession proof Fayetteville market that posted 12.4% rent growth YoY at the end of Q1 2021.
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Under Contract
West End at Fayetteville
360 Units
3050 Plantation Garden Way
Fayetteville, NC  28303
Posted: 5/11/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of Woodlands Landing at Echo Farms, a 176-unit, 2020-built Class A community located in the southern portion of Wilmington, NC. The property benefits from an ideal location to varied retail, entertainment options, high-quality schools, top employers, and the largest hospital in Wilmington. Already stabilized after a rapid lease-up period, the property is perfectly positioned to capitalize on organic rent growth while also substantiating the demand for new construction Build-to-Rent Townhome product in the market. In addition, the property’s curated amenities and its location in a strong rent projection submarket present an ideal confluence for rent growth. Woodlands Landing at Echo Farms represents an outstanding opportunity to invest in a newly-built, stabilized Class A asset with $230+ rental headroom.
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Under Contract
Woodlands Landing at Echo Farms
176 Units
3215 Midvale Drive
Wilmington, NC  28412
Posted: 3/4/2021