Wilmington, NC
126 Units

The Flats at LeLand is a 126-unit apartment community located in the Wilmington MSA of North Carolina. Built in 2009, the property faced significant challenges with occupancy rates at a mere 45%. Demonstrating its commitment to opportunistic investments, URS Capital Partners completed the transaction in just 27 days from contract to closing, responding to the imminent maturity of the existing loan. The reposition plan will cure all deferred maintenance, creating a best-in-class community.