BAM Capital Acquires Marling at Town Creek to Expand into Southeast Multifamily Market
BAM Capital has acquired The Marling at Town Creek, a 334-unit Class A multifamily property in Leland, North Carolina. This acquisition marks BAM's entry into the Southeast and is part of its BAM Multifamily Growth Fund V portfolio. Built in 2024, the community features modern amenities such as a saltwater pool, co-working spaces, and lounge areas. The purchase was made at an estimated 17.4% discount to replacement cost, reflecting BAM Capital's strategy of acquiring high-quality assets in markets with strong population growth and rental demand. The Wilmington MSA has seen significant demographic expansion—32% since 2010—with more than 10% expected through 2030—and limited new supply is contributing to rising multifamily demand. The property's location near major employers like Amazon and Novant Health, along with its proximity to over 129,000 jobs within a 25-minute radius, supports BAM Capital’s long-term value creation strategy. The acquisition aligns with Fund V's goal of targeting high-growth U.S. markets for capital appreciation.
Topics: acquisition multifamily housing private equity real estate