Childress Klein and Cameron Management have formed a joint venture to secure a $48.5 million loan for the refinancing of Element Barclay Station, an apartment complex in Wilmington, North Carolina. The 12-year fixed-rate loan was obtained through a life company.
Element Barclay Station is located at 1841 Dusty Miller Ln and consists of nine buildings with 286 garden-style units. It was completed in 2023 and offers one- to three-bedroom apartments ranging from 746 square feet to 1,582 square feet. Residents can enjoy amenities such as a pool, fitness center, game room, and dog park. This complex is part of Childress Klein’s larger Element Barclay master-planned community which began with the delivery of 258 units in2018 followed by an additional147 units delivered in2019.
The borrower was represented by Nate Sittema,Kristen Reilley,and Ben Hardee from CBRE Capital Markets’ Debtand Structured Finance team based outof Charlotte.The joint venture between Childress Kleinand Cameron Management has successfully secured this significant refinance deal for their Wilmington property.ElementBarclayStation continues to bea highly sought-after residential communityinthe area.
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