BAM Capital has acquired The Marling at Town Creek, a 334-unit community in Leland, N.C., for approximately $57.7 million.
This acquisition represents BAM Capital’s entry into the Southeast market. According to BAM Capital, the property was acquired at an estimated 17.4 percent discount to replacement cost. The company used its BAM Multifamily Growth Fund V for the acquisition.
Ivan Barratt, founder & CEO of The BAM Cos., said in prepared remarks that the company has been evaluating opportunities in North Carolina for more than five years…