KNIGHTDALE, N.C. — Turnbridge Equities has received a $51.2 million construction loan for Mailman Post, a 302-unit build-to-rent (BTR) development in Knightdale, about 12 miles east of Raleigh, North Carolina. Paul Spellman, Chris Peck and Ward Smith of JLL Capital Markets arranged the non-recourse loan through a regional bank.
Mailman Post is located on 74 acres at 409 and 438 Mailman Rd. The community will feature a mix of two- through five-bedroom units with an average size of approximately 1,650 square feet. Each unit will include a backyard, garage and front porch.
The development includes 21.6 acres of open space, with 4.5 acres dedicated to recreation areas featuring pickleball and bocce courts, a putting green, playing fields, a dog park and multiple tot lots. Residents will have access to amenities such as a clubhouse with a fitness center, lounge, coworking space and pool. An estimated delivery date was not disclosed.