Walton Global, a real estate investment and land asset management company, announced the sale of Phase I of the Mariners Reach property to homebuilder D.R. Horton. The entire property, located in Bolivia, North Carolina, consists of 507 approved lots that are currently slated for residential activity.

The future community is expected to include an amenity center that will include a pool, a clubhouse and a playground, among other amenities. The project layout phase remains underway, and significant activity should be expected on the property in the coming weeks. Walton Global continues to own the second phase of the Mariners Reach property, which contains 116 single-family lots. The first new homes are expected to be delivered by D.R. Horton in Spring 2025, with prices currently anticipated to start in the mid-$300s.

“Mariners Reach offers a charming rural setting in the Wilmington metropolitan area, providing prospective buyers the opportunity to enjoy an affordable and idyllic suburban lifestyle said Libby Shelton, Division President of D.R. Horton’s Wilmington division. “The community is strategically located near bustling employment centers, essential amenities and recreational attractions making it an enticing choice for any homebuyer.”

This sale comes shortly after the initial purchase of the land by Walton Global in October 2023. The property is a part of Walton’s Builder Land Financing program, which focuses on assisting homebuilders to secure land for development across the United States.

“Walton Global is incredibly excited about the progression that has been seen with Mariners Reach,” said Paul Bae, Vice President of Portfolio Management for Walton Global. “This type of collaboration with homebuilders provides unlimited opportunities for mutual success.”