WILMINGTON, NC – Middleburg Communities, a leading developer of rental housing throughout the Southeast and Sunbelt announced that it has secured construction financing for Mosby Barclay West, a 290-unit Class-A apartment community in Wilmington’s rapidly growing Midtown market. The development represents a joint venture partnership with Cincinnati-based Eagle Realty Group and marks Middleburg’s third development in Wilmington since 2021, following the successful completion of another Class A multifamily community, Mosby Riverlights, and Hamlet Barclay West, a 280-unit build-to-rent neighborhood currently under construction and delivering its first units in Spring 2025. Construction on Mosby Barclay West will commence immediately.
Mosby Barclay West will be strategically positioned within the Barclay West master plot, which at full buildout will feature a complementary mix of residential, retail and commercial uses. The community will be situated adjacent to Middleburg’s Hamlet at Barclay West, making a dynamic residential district that offers prospective residents choice between traditional apartment living and professionally managed single-family rental homes. Both communities will benefit from walkable access to The Pointe at Barclay, a thriving retail and entertainment destination featuring 150,000 square feet of space anchored by The Pointe 14 Theatre and numerous dining options. The property offers brilliant connectivity to major employment centers, with Downtown Wilmington, UNC Wilmington, and the region’s beaches all accessible within 15-20 minutes.
Wilmington has emerged as the fastest-growing rental market in the country since 2020, with the number of renter households increasing by 25.2% from 2020 to 2023, according to data from RealPage Market Analytics. This remarkable growth underscores the strong demand for rental housing in the area.
“Wilmington’s economic success and population inflows over the years have resulted in robust demand for high-quality rental communities like Mosby Barclay West,” said Spencer Merritt, Development Partner for the North Carolina region at Middleburg. Our investment in Wilmington reflects our strategy of expanding our presence in fundamentally strong Southeast markets with above-average job and population growth and sustained rental demand. By strategically positioning the project within the Barclay West master plot, it will be part of a vibrant, connected community that meets the evolving preferences of today s renters.
Mosby Barclay West will offer a variety of one, two and three-bedroom floorplans across five residential buildings, all with elevator access and conditioned corridors. Residents will delight in modern interiors with hard stone countertops, stainless steel appliances, shaker cabinets, tile backsplashes, in-unit washers and dryers, and luxury vinyl plank flooring. The community will provide an extensive array of amenities, including a clubhouse with a resort-style pool and fitness center, a dedicated dog park with a pet spa, and convenient features like electric vehicle charging stations, 24/7 package reception, and collaborative coworking spaces.
The project is slated to open in the summer of 2026. Upon commencement, Mosby Barclay West will join Middleburg’s active development pipeline, which currently includes 14 communities under construction throughout the Southeast and mid-Atlantic, totaling nearly 4,000 units.

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ASHEVILLE, NC – Set against the stunning backdrop of Busbee Mountain, Ellison at The Preserve officially welcomed its first residents, redefining luxury apartment living in Asheville. Combining elegant design with resort-style amenities, this premier community offers residents the perfect blend of modern convenience and tranquil surroundings, just minutes from the vibrant heart of downtown Asheville.
Staying right to Flournoy’s mission of elevating the way people live, the 315-unit community is designed to offer an unparalleled lifestyle, featuring best-in-class amenities to include:

A resort-style heated saltwater pool and sundeck for ultimate relaxation
A state-of-the-art fitness center to support active lifestyles
A co-working lounge complete with communal and private workspaces
Outdoor entertainment spaces with gaming, community grills, fire pits and more
A convenient grab-and-go market for everyday needs
Pet Spa with Pet Washing Station for Ellison’s furriest residents
Private garages to keep residents’ vehicles looking new
Resident Mail Lounge and Private Package Room for safe and secure package receiving

Inside Ellison’s premium apartment homes, residents can choose from thoughtfully designed one-, two-, and three-bedroom floor plans, each showcasing quartz countertops, stainless steel GE appliances, and luxury wood style flooring. Many of Ellison’s meticulously designed units feature balconies with unobstructed views of the gorgeous Blue Ridge Mountains. The community is built to harmonize with its natural surroundings, reflecting Asheville’s commitment to sustainability and livability.
“Ellison at The Preserve represents the perfect balance of modern luxury and natural beauty,” said Ryan Foster, Senior Vice President of Flournoy Development Company. “We’re proud to deliver a community that embodies our vision for elevated living and are thrilled to welcome residents to this stunning community.”

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DALLAS, TX – Knightvest Capital, a vertically integrated multifamily investment firm, announced the acquisition of the Mockingbird Flats apartment community in Dallas, Texas. This successful close marks the fifth acquisition in Knightvest’s Fund II.
Built in 2012, the 417-unit apartment community is centrally located next to Southern Methodist University (SMU) and the Park Cities in Northeast Dallas. The five-tale mid-rise property features ground floor retail and offers an average unit size of about 800 square feet. Knightvest plans to fully renovate the majority of the units and make substantial enhancements to the community’s amenities. As part of the renovation efforts, Knightvest has renamed the community to Belclaire.
“This acquisition marks a unique opportunity to apply our expertise in renovating and repositioning properties to such a marquee Dallas multifamily community,” said David Moore, Knightvest founder and CEO. “As we look at macro trends impacting our industry, it’s clear that younger generations including Gen Z increasingly view apartment communities as longer-term destinations, and this acquisition bolsters our footprint with this core demographic in a high growth market.”
Belclaire’s proximity to Downtown and Uptown Dallas, combined with its walkable retail options, makes it a unique and attractive living space. The property’s location near SMU further enhances its appeal, with the recent success of the university’s football team and its impending status as a Research 1 (R1) institution driving a remarkable increase in student applications. Knightvest is enthusiastic about the Dallas market as it continues to be one of the fastest-growing major cities with a robust economic outlook.

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