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Real Estate - Residential

Apartments Top List Of Sales

By Cece Nunn, posted Jan 18, 2019
Investors snapping up apartment communities, as well as a rental townhome property, represented New Hanover County’s highest real estate sales in 2018, according to tax data, with the top two located in Wilmington’s midtown area.

1. Property: St. Andrews Reserve Apartments  
814 St. Andrews Drive
Price: $48.5 million
Buyer: Kettler, a  Virginia-based firm
Seller: AGM Wilmington LLC
No. of units: 390 (sale also included unused land)
Year built: Phase 1 in 1999 and Phase 2 in 2003
Month sold: October
 
2. Property: Crosswinds Apartments 
1108 St. Andrews Drive
Price: $43 million
Buyer: Florida-based Priderock Capital Partners
Seller: Bedrock Holdings II LLC
No. of units: 380
Year built: 1990
Month sold: June
 
3. Property: Myrtle Landing
7220 Myrtle Grove Road
Price: $30.25 million
Buyer: Spyglass Capital Partners, based in New Jersey
Seller: Tribute Companies
No. of units: 144 rental townhomes (sale also included unused land)
Year built: 2016-17
Month sold: April
 
4. Property: The Preserve at Pine Valley (formerly Governour’s Square Apartments) 3314 Wickslow Road
Price: $18.4 million
Buyer: Latitude Real Estate Investors of Beverly Hills, California
Seller: Governours Square Club LLC
No. of units: 219
Year built: 1974; effective year built: 2000
Month sold: March
 
5. Property: Hanover Landing Apartments 
3439 Wilshire Blvd.
Price: $16.25 million
Buyer: Hanover Landing 2018 LLC, based in New Jersey
Seller: Heritage Hanover LLC
No. of units: 112
Year built: 1967; effective year built: 1985
Month sold: June
 
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