Plato's Lofts Acquisition Secures Housing for UNCW Students
UNCW Corporation II Randall Parkway, LLC completed the $16.25 million acquisition of Plato’s Lofts on Oct. 29, 2026, permanently securing 216 beds for UNCW students over the long term. The buyer is a wholly owned subsidiary of UNCW Corporation II, a nonprofit organization that supports the university.
The property already serves UNCW students, and current residents can expect a seamless transition. Plato’s Lofts will retain its existing name for the immediate future.
“This acquisition secures housing our students already rely on at a price that makes sound financial sense,” said Miles Lackey, vice chancellor for business affairs and chief financial officer. “It gives us greater control over long-term housing costs and supports our efforts to keep this option affordable for the students who live there.”
The acquisition builds on an established housing operation, with financial projections indicating that property revenue will cover all applicable operating expenses and debt payments.
Located at 4810 Randall Parkway near campus, Plato’s Lofts includes 54 four-bedroom apartments in three residential buildings, along with a clubhouse and pool. The property provides apartment-style housing for sophomores, juniors and seniors.
“Students have enjoyed living at Plato’s Lofts, and this purchase allows us to make it a lasting part of our housing offerings,” said Kevin Meaney, executive director of housing and residence life. “Securing these apartments expands our permanent housing inventory and gives upperclassmen an appealing option to stay close to campus and connected to the UNCW community.”