BWE Investment Sales(“BWEIS”) announced the sale of the Cambridge Village Portfolio, a three-property, 636-unit Class A independent living portfolio in North Carolina’s Raleigh-Durham and Wilmington markets, to affiliates of Starwood Capital Group. Solera Senior Living will assume operations.
“This is a landmark transaction for the sector,” said Ryan Stoll, National Director of Seniors Housing Capital Markets at BWE. “Class A independent living at this scale in high growth, coastal markets with barriers to entry is exceptionally rare.”
“It’s clear institutional quality Seniors Housing is where sophisticated investors see significant relative value and demographic-driven growth,” said Taylor Mokris, Senior Vice President at BWE.
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. Constructed between 2010 and 2022, the three communities were developed by Oliver Development and operated by Cambridge Village Senior Living, both companies led by Kendall Oliver, who developed and operated the trophy portfolio around a wellness-first resident experience. Each campus features resort-style amenities including fitness centers with instructor-led programming, heated indoor pools, full-service salon and spa, restaurant-style dining, movie theater, library and landscaped outdoor gathering areas.
The acquisition includes entitled land parcels adjacent to the Apex and Brier Creek communities, providing a clear path for future expansion.
The Raleigh-Cary MSA ranks among the fastest-growing metros in the U.S., anchored by Research Triangle employers in technology, life sciences, healthcare and higher education. Green Street’s 2026 Seniors Housing Outlook ranked Raleigh #1 among the top 50 U.S. metros for both IRR and risk-adjusted IRR. Wilmington, a top coastal retirement destination, continues to draw retirees nationally with its historic downtown, beaches and quality of life. Both markets are expected to see accelerating demand as the 75+ population grows through the next decade.