The Sterling
WILMINGTON, NC | 265-UNIT MULTIFAMILY DEVELOPMENT
Key Investment Highlights
- The Sterling is a 265-unit luxury wrap multifamily development in the thriving port city of Wilmington, NC
- Project is planned to be located within Center Point, an 18-acre mixed-use community, planned to include ±85,000 SF of retail space, ±102,000 SF of office space, and a ±200-key hotel. The Sterling is part of the initial phase, as well as ±32,000 SF of retail space (capitalized separately)
- Site is conveniently located within a 10 to 15-minute drive from Wilmington’s primary employment centers, including Downtown Wilmington, Riverfront Historic District, UNC Wilmington, and the Wilmington Int’l Airport
- Project is planned to include a premier community amenity package, including a resort-style pool, indoor/outdoor bar and grill area, balcony clubroom overlooking two event lawns, private wine lockers, golf simulator, dog park & spa, co-working space, fitness center & reading lounge
Development Information
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Property Type
Multifamily
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Deal Type
Opportunistic / Op Zone
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Units
265
Located in
Wilmington, NC
1541 Eastwood Road
Wilmington, NC 28403
United States
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Disclaimer: The information contained herein is for informational purposes only and does not constitute an offer or sale or any form of general solicitation or general advertising of interests in any fund or investment vehicle. Any such offer will only be made in compliance with applicable state and federal securities laws pursuant to offering documents which will be provided to qualified prospective investors upon request. Prospective investors should review the offering documents carefully, which includes important disclosures and risk factors.
Risks and Limitations: the risks associated with making investment decisions based on targeted metrics is that they are targets. Commercial real estate investing is risky, and that means that the investment will not always play out according to expectations. Targeted returns involved multiple degrees of uncertainty and risk related but not limited to rental rates, lease expiration dates, occupancy rates, length of the investment period, exit cap rates, and interest rates. – Criteria and Assumptions- how a sponsor approaches the underwriting process (conservative, moderate, aggressive) may change the assumptions of the model which include targeted: cash yield, equity multiple, IRR, investment period and distribution rates