Nearly 700 apartment units are up for grabs near the University of North Carolina Wilmington and University Centre shopping complex.

Raleigh-based Tar Heel Companies of North Carolina, a 35-year-old apartment management firm, appears to be unloading its entire Wilmington apartment portfolio.

Tar Heel Companies owns and operates four apartment complexes with a total of 695 units in Wilmington:
- Lennon Woods on Ringo Drive with 158 units.
- New Centre Commons on Dapple Court with 301 units.
- McMillan Oaks on Strickland Place with 158 units.
- The Lofts on Oriole Drive with 78 units.

It’s unclear why the firm is selling its Wilmington apartment stock, and how long the apartment complexes have been up for sell.

Officials with Raleigh-based Apartment REP — a firm that specializes in multifamily and commercial real estate brokerage — would not comment about the sale, citing a strict confidentiality agreement with Tar Heel Company officials.

Calls to Tar Heel Companies of North Carolina were not returned Friday afternoon.