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Core-Plus Acquisition

198 Milltown

Burlington, North Carolina

Property Overview

 

198 Milltown Apartment Homes offers one-, two-, and three-bedroom units ranging from 700 to over 1,200 square feet. Apartment amenities include open-concept floor plans with 9-foot ceilings, oversized windows, and spacious walk-in closets; modern kitchens with granite countertops and energy-efficient stainless-steel appliances; wood-plank vinyl flooring and carpets in bedrooms; in-unit washer/dryer; and patios/balconies.

 

Community amenities include a 24-hour health club and resident lounge, pet spa and pet park, salt-water swimming pool, outdoor social lounge and grill area, Amazon package lockers, playground, car care center, and garages.
Location
Burlington, North Carolina
Property Type
Luxury Suburban, Garden Style Apartments
Project Type
Core-Plus
Year Built
2020
# of Units
288
Date Acquired
March 2025

Investment Overview

 

Fund III acquired 198 Milltown Apartment Homes in March 2025 as its first investment. Conveniently located between Greensboro and Raleigh/Durham, 198 Milltown’s submarket offers great demographics for multifamily investment, including a diverse employment base and growing population.