U.S. Chaucer Creek Capital acquires Sawmill Point for $65.3 mln

U.S. real estate investment firm Chaucer Creek Capital has completed the acquisition of Sawmill Point, an apartment community in downtown Wilmington, North Carolina, for $65.3 million.

The four-story, 280-unit waterfront apartment community is located at 15 Cowan St. on North Carolina’s Cape Fear River, which feeds into the Atlantic Ocean.

Chaucer Creek Capital acquired the asset from the joint venture of The Davis Cos., Gemini Partners LLC, Capital Properties, The Wills Cos., Fideli Investments and Symphony Properties LLC.

The property, which was constructed in 2017, consists of one- and two-bedroom floor plans and has amenities including a saltwater swimming pool, bocce ball court, fire pits and a hammock garden.