Pender County, North Carolina
Our partnership provided equity to acquire 105 finished single-family residential lots and 8.78 acres for the development of 12 additional lots, located in the Majestic Oaks subdivision near Wilmington, NC. The subdivision is a 110-acre tract of land consisting of approximately 138 wooded lots ranging from 0.46 to 0.68 acres. The property is located adjacent to the Intracoastal Waterway and ideally situated at the intersection of Hwy. 17 and Route 210, which provides quick access to downtown Wilmington to the south and Jacksonville/Camp Lejeune to the north.
As part of our business plan, we have expanded the capacity of the wastewater treatment plant. Extremely strong interest from builders in the area has already led to the sale of the majority of the lots, and currently there remain 28 lots to be sold to developers. Investors have already seen the return of over 131% of their original equity.
Westmount Realty Capital, LLC