APEX, RALEIGH AND WILMINGTON, N.C. — BWE Investment Sales has brokered the $349.9 million sale of the Cambridge Village Portfolio, a three-property independent living portfolio in Apex, Raleigh and Wilmington. The portfolio comprises Cambridge Village of Apex, a 219-unit community in Apex; The Cambridge at Brier Creek, a 195-unit community in Raleigh; and Cambridge Village of Wilmington, a 222-unit community in Wilmington. In addition, the acquisition includes entitled land parcels adjacent to the Apex and Brier Creek communities.
Miami Beach, Fla.-based Starwood Capital Group purchased Cambridge Village of Apex and The Cambridge at Brier Creek senior living communities for a combined $209 million, according to the Triangle Business Journal. The firm also acquired Cambridge Village of Wilmington for $140.9 million.
Oliver Development built the three communities, which were constructed between 2010 and 2022 and are operated by Cambridge Village Senior Living. Each campus features resort-style amenities including fitness centers with instructor-led programming, heated indoor pools, a full-service salon and spa, restaurant-style dining, movie theaters, libraries and landscaped outdoor gathering areas.