Real Estate - Residential

Compass Pointe Rental Home Project Secures $62M In Financing

By Staff Reports, posted Aug 17, 2023
The Village at Compass Pointe is an apartment and townhome community coming to Leland. (Rendering courtesy of Cushman & Wakefield)

A rental home community in Leland received $62 million in construction financing, according to a news release.

Officials with real estate firm Cushman & Wakefield recently announced the company served as the exclusive advisor to SR Real Estate Partners and Circle Squared Alternative Investments in the procurement of the financing for The Village at Compass Pointe, a 268-unit luxury rental community in Leland.

The loan was provided by Dwight Mortgage Trust, the release stated.

The Village at Compass Pointe's 25-acre site will feature 140 single-family rental townhomes and 128 apartments in two, four-story elevator buildings.

"Units will feature modern kitchens, spa-like bathrooms and in-unit washers and dryers," according to the release. "Upon completion, the property will feature several resort-style amenities, including two clubhouses, cabana pools and pickleball courts."

The first units in the development, which is located at the gateway to master-planned community Compass Pointe, are expected to be delivered in January 2025.

A Cushman & Wakefield Equity, Debt & Structured Finance team of Gideon Gil, Zachary Kraft, Sebastian Sanchez and Dale Braverman represented the borrower in the transaction, according to the release.

Gil said in the release, "This milestone marks a significant step towards fulfilling the growing demand for high-quality housing options in the Wilmington submarket."

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