Argyle Real Estate Capital, Battery Global Advisors and Dimora Capital Acquire 312-Unit Exchange at Westgate in Leland, NC
Argyle Real Estate Capital, Battery Global Advisors and Dimora Capital have jointly acquired Exchange at Westgate, a 312-unit, Class A multifamily community in Leland, North Carolina, the firms announced June 18, 2026. The property, completed in 2023, sits within the Westgate area of Leland and falls within the broader Wilmington metropolitan statistical area.
Financial terms of the transaction, including purchase price and capitalization rate, were not disclosed. The acquisition marks the first joint venture between Argyle Real Estate Capital and its two capital partners, Battery Global Advisors and Dimora Capital.
Property Overview: Class A Garden-Style Community
Exchange at Westgate is a garden-style community offering studio, one-, two-, and three-bedroom floor plans with an average unit size of 931 square feet. Interior finishes include granite countertops, full ceramic tile backsplashes, stainless steel appliances, wood-style flooring, walk-in and oversized closets, and designer light fixtures.
Community amenities include a grand clubhouse with a resident lounge, a cyber café, a resort-style saltwater pool with a poolside grilling area, a fitness center, and a dog park.
The community is situated within the Westgate area and is walkable to Chick-fil-A, Starbucks, Harris Teeter, and Walmart. Exchange at Westgate is approximately 12 minutes from Downtown Wilmington, with access to the Port of Wilmington, Wilmington International Airport, New Hanover Regional Medical Center, and UNC Wilmington.
Business Plan: Lease-Up Completion and Light Value-Add
Argyle Real Estate Capital has outlined a light value-add and operational program centered on completing the property's initial lease-up and implementing targeted enhancements. Planned improvements include the addition of in-unit washer/dryer appliances, along with exterior and amenity upgrades.
Argyle has selected Greystar to manage on-site operations.
"Exchange represents a very compelling opportunity in one of North Carolina's most attractive growth corridors offering residents walkability to countless retail and entertainment options and quality housing," said Ryan Reyes, CEO of Argyle. "We are thrilled to kick off our partnership with Battery Global Advisors and Dimora Capital."
"Exchange at Westgate is a great addition to our growing portfolio and exemplifies the type of assets we target — institutional quality communities at an attractive going in basis in desirable, high growth markets," said Mike Cacciatore, Partner at Argyle. "We look forward to implementing our business plan and creating long-term value alongside our partners."
Capital Partners: Institutional Family Office and Programmatic Multifamily Focus
Battery Global Advisors, which operates through an institutional family office framework, manages more than $8 billion in assets and has deployed more than $1 billion across real estate and digital infrastructure investments. The firm serves sophisticated investors globally and describes its real estate capability as a core component of its integrated investment platform.
"The Wilmington MSA is one of the most compelling growth stories in the Southeast, and Exchange at Westgate checks every box — a best-in-class 2023 vintage asset at an attractive basis with a clear path to value creation. We couldn't be more pleased to launch our partnership with Argyle on this deal and look forward to building on this momentum together," said David Rothenhaus, Co-CIO of Real Estate for Battery Global Advisors.
Dimora Capital is a family-owned real estate firm that focuses exclusively on multifamily investments and describes its strategy as forming programmatic alliances with operating sponsors. The firm's name derives from the Italian word for "residence," reflecting its founders' heritage and its singular focus on the residential asset class. Dimora Capital emphasizes value-add strategies, credit enhancement, and asset management as core components of its partnership model.
Leland and the Wilmington MSA
The acquisition expands Argyle Real Estate Capital's footprint in the Carolinas and the broader Southeast. The Tampa, Florida-based firm was founded in 2023 and focuses on core-plus and value-add multifamily acquisitions in primary and secondary markets across the region. According to the firm, Argyle and its affiliates have acquired more than 2,400 units totaling more than $500 million in aggregate value to date.
About the Firms
Argyle Real Estate Capital is a vertically integrated real estate investment firm based in Tampa, Florida, focused on the acquisition and repositioning of core-plus and value-add multifamily assets in primary and secondary markets throughout the Southeast. For more information, visit argylerep.com.
Battery Global Advisors invests through an institutional family office framework, managing more than $8 billion in assets across traditional wealth management and alternative investment strategies, including real estate and digital infrastructure. For more information, visit bga.com.
Dimora Capital is a family-owned real estate firm focused on multifamily investments and programmatic sponsor partnerships. For more information, visit dimoracapital.com.