Wilmington, N.C. — Carolina Apartment Advisors has arranged the $34.2 million sale of Carolina Cove, a 600-bed student housing community located less than one mile away from the University of North Carolina at Wilmington campus.
Carolina Cove was built in 2013, and features 228 two- and three-bedroom units. Community amenities include a resort-style swimming pool, sundeck, student lounge, business center, a state-of-the-art fitness center with a tanning bed, a beach volleyball court, basketball court, hammock garden, barbecue grills, campus bus route and a private gated entry. Carolina Apartment Advisors CEO and Principal John Edwards represented the seller, University Housing Group. The buyer, Realco Capital Partners, plans to upgrade the furnishings and interiors of the complex.