North Carolina

CEI-Hillcrest-Antioch
Affordable HousingCaliforniaCompany NewsDevelopmentFinanceFloridaInvestment SalesNewsNorth CarolinaNortheastSouth CarolinaSoutheastWestern

CEI Launches Affordable Housing Investment Partnership

by Lynn Peisner

LOS ANGELES — Los Angeles-based developer Cypress Equity Investments (CEI) and an unnamed Florida-based investment firm have partnered to build or acquire approximately $1.2 billion worth of affordable housing communities. The venture is being launched with 11 ground-up projects that are already in place in California and Florida. Target markets for future opportunities include the Carolinas, Tennessee, Texas and some markets in the Northeast. Some of the deal characteristics CEI is seeking will include communities with on-site resident services, developments that partner with nonprofits and acquisitions of other existing institutional …

Continue Reading
0 FacebookTwitterLinkedinEmail
Emerald-Lake-Elizabeth-City
Investment SalesNewsNorth CarolinaSoutheastVirginia

Newbrook Capital Partners Buys Two-Property Portfolio for $58.2 Million

by Lynn Peisner

CHESAPEAKE, VA., ELIZABETH CITY, N.C. — Newbrook Capital Properties has acquired a two-property portfolio for $58.2 million. The assets are Green Tree, a 208-unit garden-style property in Chesapeake, and Emerald Lake, a 132-unit garden-style property about 40 miles south in Elizabeth City. Both communities were developed in the 1990s. The buyer is planning to update approximately 70 percent of the portfolio’s units. Newbrook Capital Properties was co-founded in late 2023 by hedge fund manager Robert Boucai and James Broyer, former president of multifamily investments at JRK Property Holdings. The unnamed …

Continue Reading
0 FacebookTwitterLinkedinEmail
Loft-One35-Charlotte
FinanceInvestment SalesNewsNorth CarolinaSoutheast

Mesa West Provides Loan for JV’s Charlotte Acquisition

by Lynn Peisner

CHARLOTTE, N.C. — Mesa West Capital has provided a joint venture between Hillridge Capital and Broad Creek Capital with a $69.8 million first mortgage loan for the acquisition and renovation of Loft One35 in Charlotte’s South End neighborhood. The total acquisition cost was $94 million, according to the Charlotte Business Journal. Loft One35 is a 298-unit, six-story community that offers a mix of loft-style apartments as well as townhomes. Amenities include a resort-style pool, a courtyard with a fire pit and grilling stations, a pet spa, a coffee bar and …

Continue Reading
0 FacebookTwitterLinkedinEmail
DevelopmentFinanceNewsNorth CarolinaSoutheast

JLL Arranges $69.4 Million in Construction Financing for Ares’ Charlotte Project

by Lynn Peisner

CHARLOTTE, N.C. — JLL has arranged a $69.4 million construction loan for Ares Management Corp. (NYSE: ARES), which is developing 1817 Central in the Plaza Midwood neighborhood of Charlotte. United Bank was the lender. The 341-unit community will feature studios and one-, two- and three-bedroom floor plans and amenities that include a fitness center, a rooftop lounge, multiple courtyards, a pet spa and a library. Groundbreaking is scheduled before the end of the year with construction completion estimated for 2028. According to JLL, the Plaza Midwood area has seen a …

Continue Reading
0 FacebookTwitterLinkedinEmail
Springfield-Apartments-Durham
Investment SalesNewsNorth CarolinaSoutheast

RailField Buys Research Triangle Property

by Lynn Peisner

DURHAM, N.C. — RailField has acquired Springfield Apartments, a 288-unit garden-style property in Durham. The seller and sales price were not disclosed. Amenities include a resort-style pool with grilling stations, a fenced dog park, a renovated fitness center, a game room and a car care center. The property was purchased via RailField’s RG Value Add Fund, a joint venture with alternative-asset investment firm GCM Grosvenor.  

Continue Reading
0 FacebookTwitterLinkedinEmail
Central-at-Old-Concord-Charlotte
Affordable HousingDevelopmentNewsNorth CarolinaSoutheast

The Annex Group Begins Development of $57 Million Affordable Housing Community in Charlotte

by Lynn Peisner

CHARLOTTE, N.C. — The Annex Group has broken ground on Central at Old Concord, a 200-unit affordable housing community in Charlotte. The building on the 3.5-acre site will include one-, two- and three-bedroom apartments reserved for renters earning up to 70 percent of area median income. The project is cost is approximately $57 million. Completion is slated for summer 2027. Partners on the project include Cline Design, McAdams, Shelter Investment Group, ECS Southeast LLP, August Mack Environmental, Capital Consultants, Drucker and Falk, DELCK Group LLC and Impact Housing Indiana Corp. …

Continue Reading
0 FacebookTwitterLinkedinEmail
Kimberly-Ridge-NC
Affordable HousingDevelopmentFinanceNewsNorth CarolinaSoutheast

LEDG Completes Renovation of North Carolina Affordable Housing Property

by Lynn Peisner

KANNAPOLIS, N.C. — LEDG Capital has completed the $5.5 million renovation of Kimberly Ridge, a 76-unit property in Kannapolis the private affordable housing investor acquired in April 2024. Kannapolis is 28 miles northeast of Charlotte. During the 11-month rehabilitation effort at Kimberly Ridge, LEDG installed new kitchens, bathrooms, lighting fixtures and energy-efficient heating and cooling systems in all units and replaced roofs and repaired siding, gutters and parking surfaces. New community amenities and security features were added, and six apartments were modified to meet accessibility standards for the mobility impaired. …

Continue Reading
0 FacebookTwitterLinkedinEmail
DevelopmentNewsNorth CarolinaSoutheast

Wood Partners Breaks Ground on Alta Durham Summit

by Lynn Peisner

DURHAM, N.C. — Wood Partners will break ground later this month on Alta Durham Summit in Durham. The Atlanta-based developer expects to complete construction of the 312-unit community by summer 2027. The development will replace a former office park and is located adjacent to a newly renovated office building that is home to Durham Technical Community College. Alta Durham Summit includes a mix of one-, two- and three-bedroom layouts in three- and four-story buildings with such amenities as a pool, a dog park and spa and open outdoor spaces. This …

Continue Reading
0 FacebookTwitterLinkedinEmail
GoodHomes-Detroit
Affordable HousingConnecticutFinanceMichiganMidwestNewsNorth CarolinaNortheastRhode IslandSoutheast

Joint Venture Lands $76 Million Bridge Financing for Hotel-to-Multifamily Portfolio

by Lynn Peisner

BALTIMORE — M&T Realty Capital Corp. has provided a $76.2 million bridge loan for the GoodHomes portfolio owned by GoodHomes Communities and PILOT Real Estate Group. The portfolio consists of five former hotel properties that have been converted to workforce housing, totaling 886 units. The properties are located in Detroit, Fayetteville, North Carolina, Groton, Connecticut, and Warwick, Rhode Island. The bridge loan will refinance existing first lien debt and preferred equity, providing the sponsor with the capital needed to complete lease-up and stabilization. Four of the five properties benefit from …

Continue Reading
0 FacebookTwitterLinkedinEmail
DevelopmentNewsNorth CarolinaSoutheast

Alliance Residential Buys Land for Research Triangle Project

by Lynn Peisner

DURHAM, N.C. — Scottsdale, Arizona-based Alliance Residential Co. has acquired approximately 14 acres of land in Durham for Broadstone RTP, a 270-unit project about four miles north of Research Triangle Park. The site is located at 2610 South Miami Blvd. The project’s Raleigh-based team includes McAdams Co. (civil engineering), Cline Design (architecture) and MAD Studio Interiors (interior design). Broadstone RTP will include one three-story residential building, three four-story residential buildings and a freestanding clubhouse. Units will feature granite countertops, stainless steel appliances, wood-style flooring, walk-in closets and full-sized washers and …

Continue Reading
0 FacebookTwitterLinkedinEmail
Newer Posts
Older Posts
©2025 France Publications, dba France Media Inc.