Exclusive: Hawthorne Pays $48M for North Carolina Property
The buyer secured a Freddie Mac loan.
Hawthorne Residential Partners has paid $47.5 million for Hawthorne at Shallotte, a 264-unit community in Shallotte, N.C., according to Yardi Matrix information. Logan Homes sold the asset.
Walker & Dunlop originated a $34.1 million Freddie Mac loan for this transaction. The note will mature in 2036.
Formerly known as Monument at Ocean and Main, the Brunswick County community includes 11 three-story buildings completed in 2025. The property occupies 23 acres at 43 Cabrillo Road SW, less than 2 miles from the town center and its shopping and dining venues. Odell Williamson Municipal Airport is 11 miles away, while North Carolina’s Brunswick Islands are within 12 miles.
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Hawthorne at Shallotte comprises one- to three-bedroom units ranging from 807 to 1,226 square feet. All apartments have in-unit washers and dryers, nine-foot ceilings and bedrooms with oversized closets, as well as private patios or balconies.
Community amenities include a swimming pool, an entertainment area with grilling stations, a covered pavilion with fireplace, a clubhouse, a fitness center, a playground area, a pet spa, a pet park and some 460 parking spaces.
The purchase adds to Hawthorne’s footprint in its home state. The Greensboro, N.C.-based company operates 192 communities spread across key markets, including Charlotte, the Triad, Raleigh-Durham and Fayetteville.
Recent 2026 investment activity in the area
Hawthorne at Shallotte was the only multifamily property of more than 50 units to sell within a 5-mile radius in the last 5 years, according to Yardi Matrix information. The area is home to eight such communities in different phases of development.
However, Brunswick County has witnessed several investment deals since the beginning of the year. One of them was BAM Capital’s $57.7 million purchase of The Marling at Town Creek, a 334-unit community in Leland, N.C., just 24 miles northeast. The transaction closed in October and represented BAM’S entry into the Southeast market.
In another significant deal, Argyle Real Estate Partners acquired Exchange at Westgate, a 312-unit property in the same city, with the help of a $39.5 million loan issued by Greystar, according to Yardi Matrix information. Hathaway Cos. sold the asset in June.
