RALEIGH, N.C. — Barings has provided a $134 million loan for the refinancing of Smoky Hollow, a mixed-use development located in the Glenwood South neighborhood of Raleigh. Smoky Hollow was constructed in 2020.
The property includes The Line, a 283-unit apartment community. The Line features studio, one-, two and three-bedroom floor plans. Amenities include a pool, clubroom, social lounge, coworking space, fitness center, outdoor grilling and dining stations and a package delivery room.
In addition to The Line, Smoky Hollow also features a 229,000-square-foot office building known as 421 North Harrington. The office building rises nine stories and offers bike storage space and multiple outdoor terraces. The mixed-use project also offers about 40,000 square feet of retail and restaurant space.
Travis Anderson, Colby Mueck, and Warren Johnson of JLL arranged the loan, which features a five-year term, on behalf of the owner, a joint venture between locally based Kane Realty Corp., Williams Realty & Building Co. and Lionstone Investments.
Barings is a global investment management firm based in Charlotte, North Carolina. The company is a subsidiary of insurance giant MassMutual.