CHARLOTTE, North Carolina, February 27, 2018 – Cushman & Wakefield has arranged the sale of The Preserve at Pine Valley, a 219-unit apartment community located in Wilmington, North Carolina. Watson Bryant, Paul Marley and Jordan McCarley of Cushman & Wakefield represented the seller, Gold Properties, in the transaction.
“The Preserve at Pine Valley is a well-maintained asset in one of South Wilmington’s strongest submarkets,” Bryant said. “The property has always maintained strong occupancy and provides the new owners an opportunity to renovate interiors, taking advantage of Wilmington’s impressive population growth.”
The Preserve at Pine Valley, built in 1976, includes a swimming pool, tennis courts, dog park, playground and a car care center. Wilmington boasts one of the healthiest secondary markets in the nation anchored by recession-resilient jobs in education, healthcare and government. With more than $500 million in recently announced developments, the city is predicted to grow into a powerhouse in the next 10 years.
Cushman & Wakefield’s Southeast Multifamily Advisory Group is the most active firm in the region, with the No. 1 market share based on transactions and sales volume reported to CoStar. In 2017, the group closed $4.8 billion in sales volume (a 34.6 percent year-over-year increase) through 268 deals and more than 55,000 units. For more information about Cushman & Wakefield’s Southeast Multifamily Advisory Group, visit https://multifamily.cushwake.com.