Key Takeaways
- • BAM Capital acquired The Marling at Town Creek, a 334-unit multifamily community in Leland, North Carolina, for approximately $57.7 million, marking the firm's entry into the Southeast market.
- • The property was purchased at a 17.4% discount to replacement cost, reflecting BAM Capital's disciplined acquisition strategy targeting high-quality assets in growth markets.
- • The asset has been added to BAM Multifamily Growth Fund V and represents the culmination of over five years of market evaluation by The BAM Companies in the Wilmington, North Carolina region.
- • The Marling at Town Creek, completed in 2024, features modern amenities including a saltwater pool with ledge deck, clubhouse with co-working space, and work-from-home suites, positioned to serve growing renter demand near Wilmington.
- • The Wilmington MSA offers coastal living with Midwest-comparable housing affordability and limited new multifamily supply, supporting durable rental demand fundamentals.
Summary
BAM Capital, the private equity arm of The BAM Companies, has completed its first Southeast acquisition with the purchase of The Marling at Town Creek, a 334-unit multifamily community in Leland, North Carolina, just outside Wilmington. The transaction, valued at approximately $57.7 million, represents the firm's strategic expansion into a new geographic market after more than five years of evaluation and market research in the region.
The acquisition price reflects a 17.4% discount to replacement cost, demonstrating BAM Capital's disciplined investment thesis of acquiring high-quality multifamily assets at attractive entry points in markets characterized by strong population growth, employment expansion, and reliable rental demand. According to Ivan Barratt, Founder and CEO of The BAM Companies, the firm identified a compelling combination of factors: "the combination of an attractive acquisition basis, strong population growth, and favorable supply-and-demand fundamentals creates a compelling foundation for this investment."
The Marling at Town Creek was completed in 2024 and features market-rate floor plans and resort-style amenities tailored to serve the growing renter population in the Wilmington area. Property amenities include a saltwater swimming pool with ledge deck and lounge seating, a clubhouse with co-working space and work-from-home suites, and an on-site café. The acquisition has been added to BAM Multifamily Growth Fund V. The Wilmington market offers a unique value proposition combining coastal lifestyle attributes with housing costs comparable to many Midwest markets, while the local multifamily sector experiences sustained demand growth amid constrained new supply, supporting the investment's fundamental outlook.
The acquisition price reflects a 17.4% discount to replacement cost, demonstrating BAM Capital's disciplined investment thesis of acquiring high-quality multifamily assets at attractive entry points in markets characterized by strong population growth, employment expansion, and reliable rental demand. According to Ivan Barratt, Founder and CEO of The BAM Companies, the firm identified a compelling combination of factors: "the combination of an attractive acquisition basis, strong population growth, and favorable supply-and-demand fundamentals creates a compelling foundation for this investment."
The Marling at Town Creek was completed in 2024 and features market-rate floor plans and resort-style amenities tailored to serve the growing renter population in the Wilmington area. Property amenities include a saltwater swimming pool with ledge deck and lounge seating, a clubhouse with co-working space and work-from-home suites, and an on-site café. The acquisition has been added to BAM Multifamily Growth Fund V. The Wilmington market offers a unique value proposition combining coastal lifestyle attributes with housing costs comparable to many Midwest markets, while the local multifamily sector experiences sustained demand growth amid constrained new supply, supporting the investment's fundamental outlook.
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