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We are pleased to announce the TidalWalk Grand Re-opening in Wilmington, NC!
Wilmington, NC (PRWEB) July 24, 2011
Mountain Real Estate Capital (MREC) and L Star Management (L Star) are proud to announce the grand reopening of TidalWalk. Since the purchase of the community in December 2010, significant work has been underway to re-establish TidalWalk as the premier coastal community in Wilmington.
“The purchase of TidalWalk by our group will ensure the original vision for the community is fulfilled,” said Arthur Nevid, Mountain Real Estate Capital’s Chief Investment Officer. “The community will benefit from strong financial commitment, as well as our ability to offer home sites at current market prices. An aggressive marketing campaign is underway with Realty World Cape Fear and L Star is commencing work on the completion of our clubhouse, pool, boardwalk and other great amenities. Final negotiations are also underway with a well-respected builder who will be making a substantial building commitment to TidalWalk.”
Kyle Corkum, President of L Star Management added, “With no debt and strong financial partners, current owners plus our future residents can find comfort in TidalWalk’s stability. TidalWalk’s great frontage on the ICW, its sandy beach and easy access to the Atlantic Ocean makes this one of the most unique communities in Wilmington.”
TidalWalk is a 197 lot, gated community on the Intracoastal Waterway located across from Masonboro Island, the largest undeveloped barrier island in North Carolina. TidalWalk features a 1/4 mile long private beach, a pier with boat slips and pavilion on the ICW and more than two miles of roadway already installed. Green Turtle Hammock, TidalWalk’s private island, will be accessible by boardwalk. Paddlers will enjoy the tidal creeks and easy access to Masonboro Island.
One of TidalWalk’s most appealing features are the views and calming sounds of the Atlantic Ocean. This proximity to the Atlantic Ocean is also appreciated by boaters. Less than a 1/2 mile via the ICW from TidalWalk is access to the Atlantic Ocean through Carolina Beach Inlet. Just south of Carolina Beach Inlet is Snows Cut, bringing you into the Cape Fear River providing access to Wilmington’s waterfront.
“Realty World Cape Fear is very excited and honored to be chosen as the exclusive firm to sell the amazing water view and waterfront lots in TidalWalk,” said Harold Chappell, Broker in Charge and Owner of Realty World Cape Fear. “TidalWalk is an ideal location for both local families and as a second home. With its easy access to the water and ocean, close proximity to Carolina Beach and numerous recreation areas and golf courses, there is something for everyone.”
For more information on TidalWalk, visit http://www.tidalwalk.com
About Mountain Real Estate Capital
MREC is organized to invest $ 1 billion in bank REO/NPL with a focus on residential development loans/projects to be either acquired or restructured/recapitalized for existing borrowers. Since 2010, MREC has acquired over $ 600 million of loans from over 20 banks. These NPL/REO acquisitions totalled over 8,700 lots plus another 7,500 acres of developable land. Its nationwide team of seasoned investment managers and local development and builder partners enabled MREC to close each of these REO/NPL transactions typically within 30 days.
MREC’s bank portfolio acquisition platform is headed by its chief investment officer, Arthur Nevid, located at the company’s Charlotte headquarters. Its homebuilder joint venture program is based in its Minneapolis office. The national origination team has additional offices in Atlanta, Los Angeles, Richmond and Newport Beach. Most of the group is comprised of former bank REO managers who had been responsible for the management and disposition of 46,000 lots and homes valued at over $ 2 billion, and currently manage approximately $ 1 billion of various residential and commercial assets for MREC. http://www.mountainrecapital.com
About L Star
L Star, based in Raleigh, North Carolina, is a highly experienced real estate investment firm that specializes in distressed debt. Partnering with some of the country’s pre-eminent private equity and wealth management funds, L Star acquires assets across the eastern half of the United States.
L Star’s senior staff has more than 200 years combined experience in land acquisition, project/asset management, site development, design, planning, permitting, real estate law, finance and construction. In the past two years, L Star Management LLC has purchased over $ 135 million in Notes and REO including over 5,000 residential units.
For more information visit: http://www.lstarland.com
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The village of Bunabumali on the slopes of Mt. Elgon in southeastern Uganda, has a history of landslides. Over a thousand people have been killed in recent years, leaving many homeless. The Nakhokho family, who includes eight children of their own, adopted another 12 kids and created the Good Samaritan Orphan & Needy School. Norman Nakhokho invited Stitch Uganda Together to the village to make hammocks that would provide beds. We brought sewing machines and fabric, and in a single day they made 20 hammocks. Hammocks are uncommon in Uganda. In fact, no one we met had ever seen a hammock. Hammocks are useful for many reasons. In the rainy season, a person can stay clean and dry up off the ground. It is a comfortable, portable bed that can be rapped around you like a cocoon, keeping biting bugs out, protecting from malaria. For the many suffering from AIDS, sleep is necessary to keep the immune system strong. Simply having a hammock for comforting rest can greatly increase a person quality of life, and we can give that to them. We are seeking action heroes for our next project in Uganda, fall/winter 2009. We are going to plant gardens and make playgrounds in addition to sewing hammocks. Will you show up? Action Hero Hammocks are currently being created by villagers in Bunabumali, and by Life in Africa, an artist collective in Kampala, Uganda, and you can buy one soon at www.ActionHeroNetwork.net! Every hammock purchased will enable us to give a hammock freely to a person in …
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