Investor Duo Inks $48.5 Refi for Wilmington Apartments

A joint venture between Childress Klein and Cameron Management obtained a $48.5 million loan for refinancing the Element Barclay Station, a 286-unit apartment complex in Wilmington, North Carolina. The 12-year fixed-rate loan was secured through a life company.  

Located at 1841 Dusty Miller Ln, Element Barclay Station is a nine-building, 286-unit garden-style apartment complex that was delivered in 2023. The complex includes one- to three-bedroom units that range in size from 746 square feet to 1,582 square feet. Community amenities include a pool, fitness center, game room, and dog park. Element Barclay Station represents the third phase of Childress Klein’s Element Barclay master-planned community, which began with the delivery of 258 apartment units in 2018 and continued with 147 more units delivered in 2019. 

Nate Sittema, Kristen Reilley, and Ben Hardee with CBRE Capital Markets’ Debt and Structured Finance in Charlotte represented the borrower.