A 334-unit apartment community just off Ocean Highway East in Leland has changed hands for approximately $57.7 million, according to public records, as an Indianapolis-based private equity firm makes its first move into the North Carolina coast. The buyer, BAM Capital, says the deal marks its entry into the Southeast real estate market after years of watching the region from afar.
The Marling at Town Creek sits on about 24 acres at 3100 Ascend Loop in Leland, roughly 12 miles west of Wilmington and about 12.5 miles from Wilmington International Airport. As reported by Multi-Housing News, D.R. Horton previously owned the property, which Yardi Matrix records show was originally developed under the name Ascend Brunswick Village. D.R. Horton built the community in 2024 with a mix of traditional multi-story apartment buildings and standalone rental cottages before management transitioned to Greystar, which now runs the property.
Ivan Barratt, founder and CEO of The BAM Companies, said in comments reported by the outlet that the firm has been evaluating opportunities in North Carolina for more than five years before pulling the trigger on this acquisition. BAM Capital made the purchase through its BAM Multifamily Growth Fund V, the same vehicle it used in October 2025 to buy Hayden Flats, a 298-unit complex in Bloomington, Indiana, sold by CRG Residential. Founded in 2010 and headquartered in Indianapolis, BAM Capital operates as the private equity arm of The BAM Companies and has managed more than $1.85 billion in historic transaction volume with a workforce of over 200 employees, according to the company’s own account of its business.
Why Brunswick County Caught an Out-of-State Buyer’s Eye
BAM Capital’s reasoning leans heavily on demographics. In a September announcement distributed via PR Newswire, the firm said it purchased The Marling at Town Creek at an estimated 17.4 percent discount to replacement cost, pointing to the Wilmington metropolitan area’s 32 percent population growth since 2010 and proximity to roughly 129,000 regional jobs tied to employers including Novant Health and Amazon, as detailed in the release carried by PR Newswire…