NAI Emory Hill facilitates sale of 88-unit apartment complex in North Wilmington

Wilmington, DE — NAI Emory Hill announced the sale of Lancashire Apartments, now rebranded as Larkwood Place Apartments, an 88-unit multifamily community located at 1 Rector Court in Wilmington, Delaware. The sale closed in under six months with Emory Hill’s Kyle McLaughlin and Rich Dudek, SIOR, representing the seller.

The property was acquired by Berger Communities, marking the second acquisition of 2025 for Berger Investments & Berger Communities, with a third already in the pipeline. Larkwood Place offers a mix of studio, one and two-bedroom apartment homes ranging from 312 to over 733 s/f.

With renovation plans already in motion, the Berger Infrastructure team will modernize a majority of the units, enhancing the living experience for current and future residents.

“Lancashire Apartments presented a strong value-add opportunity in a high-demand rental market,” said McLaughlin. “Berger Communities had a clear plan for repositioning the asset, and we’re proud to have facilitated a smooth, timely transaction for our client.”

NAI Emory Hill collaborated with WSFS Bank and Tommy Ciccarone Jr. of Bennett Williams Commercial, who assisted the buyer throughout the acquisition process.

“Working with Rich and Kyle at NAI Emory Hill was an excellent experience. Their professionalism, market expertise, and clear communication made what could have been a complex sale smooth and efficient,” said the seller. “They understood our goals from the start and worked to secure the right buyer quickly. We’re very pleased with the outcome and confident that the new owners will invest in and enhance Lancashire Apartments for the community.”