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WILMINGTON, N.C. — Indianapolis-based Millstone has secured construction financing for Venture at Port City, a 225-unit project located three miles south of downtown Wilmington. Slated for completion in spring 2027, the property will consist of three four-story buildings. Apartments will come in one-, two- and three-bedroom floor plans. Amenities will include a pool, gas grilling stations, clubhouse and outdoor cabana with a poolside lawn area.
Greysteel worked on behalf of the sponsor to secure the three-year, floating rate loan through a regional bank. Greysteel also arranged an undisclosed amount of joint venture equity from an institutional real estate investment fund. Chris Wilkins led the Greysteel team.