LELAND, NC - BAM Capital, the private equity arm of The BAM Companies, announced the acquisition of The Marling at Town Creek, a 334-unit multifamily community completed in 2024 in Leland, North Carolina, just outside Wilmington. The purchase marks BAM Capital's entry into the Southeast and is the latest addition to BAM Multifamily Growth Fund V.
"We've been evaluating opportunities in North Carolina for more than five years, with a particular interest in entering the Wilmington market," said Ivan Barratt, Founder and CEO of The BAM Companies. "We believe the combination of an attractive acquisition basis, strong population growth, and favorable supply-and-demand fundamentals creates a compelling foundation for this investment."
Acquired at an estimated 17.4% discount to replacement cost, the transaction reflects BAM Capital's disciplined strategy of acquiring high-quality multifamily assets at attractive bases in markets supported by population growth, employment expansion, and durable rental demand. The Marling at Town Creek features modern, spacious floor plans and resort-style amenities designed to serve the growing renter population in the Wilmington area. The property features a saltwater swimming pool with a ledge deck and lounge seating, along with a clubhouse featuring co-working space, work-from-home suites, and a café.
The market combines coastal living with housing affordability comparable to many Midwest regions. Meanwhile, multifamily demand in the Wilmington MSA continues to grow amid limited new supply. The market has experienced 32% population growth since 2010, with an additional 10% growth projected through 2030, based on third-party demographic data. The Marling at Town Creek is also within 25 minutes of approximately 129,000 jobs, including employment tied to major employers such as Amazon and Novant Health.
"The Marling at Town Creek is a strong fit for our strategy as we expand into new markets," Barratt said. "We remain focused on disciplined acquisitions where our basis and operating strategy can create value for investors."
Source: BAM Capital