Aspire349 is a 228-unit Class-A community serving students from the University of North Carolina @ Wilmington in Wilmington, NC. The property is located at 349 Campus Cove and just over one-half mile from campus, allowing convenient access to academic buildings, the UNCW Commons, South College Road retail, and numerous area entertainment and dining establishments. The UNCW had grown steadily over the past ten years, from 11,840 students in 2007 to 15,740 in 2016. Over 16,000 students enrolled in 2017, with growth projected to reach 18,000 by 2021.
Aspire349 was developed in 2013 to serve the students of UNCW. The property consists of 228 units and 600 beds ranging from 966 square feet, two bedrooms, two bath suites, and 1209 square feet, three bedrooms, and three-bath suites. Amenities include a modern clubhouse with a resort-style swimming pool, 24-hour fitness facility, bike racks, kayak racks, one Heated Spa, a Hammock garden, "Cove Lounge," basketball court, dog park, business center, billiards table, tanning booth, beach volleyball court, and outdoor grills. Unit features include walk-in closets, private baths for each bedroom, covered porch, in-unit washer dryer, WIFI, and Cable TV and full furnishing.
ApexOne Growth and Income Fund II purchased Aspire349 and will hold long term to capture growth and appreciation.