Timberline Real Estate Ventures bought The Wilde student apartments in Raleigh for $44.35 million. The seller, Cardinal Group, acquired the property in 2018 for $42.45 million.Â
Located on nearly 16 acres at 3333 Melrose Club Blvd. on the south side of Interstate 40, the property has 210 units in 16 3-story buildings.
Built in 1996 and renovated in 2011 and 2022, the apartments rent from $775 to $905 a month for a bedroom in either a two-, three—or four-bedroom plan. The fully furnished apartments feature quartz countertops, stainless steel appliances and an in-unit washer and dryer. Residents have access to a swimming pool, fitness center, clubhouse, private study rooms, game and recreation room, basketball and volleyball courts, dog park, grilling stations and free shuttle service to campus.
The Triangle Business Journal reports renovations will start soon, including upgrading common areas, units and the pool area.
Timberline Real Estate Ventures is a privately held real estate investment company that specializes in student housing.
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