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Atlanta & Southeast  + Southeast  + Apartments  |  November 29, 2020
David Cohen
By: David Cohen

Marcus & Millichap Brokers $37M Sale of North Carolina MF Property

Marcus & Millichap has brokered the $36.5 million sale of Pinewood Apartments, a 384-unit multifamily property in Wilmington, N.C.

Built in 1981, the 48-building complex is located on Randall Parkway and is less than a half-mile from the University of North Carolina Wilmington as well as within walking distance of numerous shopping and dining options. The property consists of 96 one-bedroom units and 288 two-bedroom units. Each apartment has direct access ground-floor entry, a fully equipped kitchen and a back patio.

Drew Babcock of Marcus & Millichap represented the seller, Greensboro, N.C.-based Pinewood LLC, in the transaction. The buyer was Friedlam Partners and Ebex Holdings.

For comments, questions or concerns, please contact David Cohen

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About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.
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