North Carolina

Pines-at-Peach-Raleigh
Affordable HousingDevelopmentNewsNorth CarolinaSoutheast

Oppidan Investment Co. Opens Two Raleigh Affordable Housing Developments Totaling $83M

by Lynn Peisner

RALEIGH, N.C. — Oppidan Investment Co. has opened two affordable housing communities in Raleigh financed by the Low-Income Housing Tax Credit (LIHTC) program: The Pines at Peach and Birch & Branch. Development costs of the two properties totaled $83 million. Located at 3470 Overstory Circle, Birch & Branch is a $49 million development featuring 180 one-, two- and three-bedroom apartments for families earning between 30 and 70 percent of the area median income (AMI). Birch & Branch was designed by Moore Hocutt, engineered by VHB, constructed by Mills Construction and …

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Rise-Bluestone-Raleigh
Affordable HousingInvestment SalesNewsNorth CarolinaSoutheast

Rise48 Equity Buys Raleigh, North Carolina, Property, Plans Renovations and Institutes Rent Caps

by Lynn Peisner

RALEIGH — Rise48 Equity has acquired Atria at Crabtree Valley in Raleigh and will rebrand the property Rise Bluestone. Located at 4601 Baymar Drive, the community was developed in 1987. Rise48 is planning a value-add renovation program across all units that will include new vinyl plank flooring, resurfaced countertops and updated finishes. From a service standpoint, Rise48 will install a bulk cable and internet program and as well as new carport parking. The Arizona-based company says these efforts are expected to result in a monthly rental rate increase of approximately …

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Maeve-Raleigh
FinanceNewsNorth CarolinaSoutheast

Capital Square Secures $105M Refinancing for Maeve in Raleigh, North Carolina

by Lynn Peisner

RALEIGH, N.C. — Walker & Dunlop has arranged a $105 million refinancing loan for Maeve, a high-rise in Raleigh owned by Capital Square. Alexandra Huffman, Justin Nelson and PJ Feichtmeier arranged the floating-rate, interest-only bridge loan through TPG Real Estate Finance. The 297-unit property, which includes studio through three-bedroom floor plans and about 10,000 square feet of ground-floor retail, was completed in 2025. Maeve was built in an Opportunity Zone proximate to the Boylan Heights neighborhood, Dorothea Dix Park and downtown. Amenities include a resort-style pool, rooftop lounge coworking spaces …

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FinanceNewsNorth CarolinaSoutheast

NewPoint Provides $49M Loan to Evolve Cos.

by Lynn Peisner

GREENVILLE, N.C. — NewPoint Real Estate Capital has provided a $49 million loan for the refinancing of Evolve at the Pines Apartment Homes, a 288-unit property in Greenville. North Carolina-based developer and property manager Evolve Cos. was the borrower. The bridge-to-agency loan was structured with a 24-month interest-only period to provide flexibility during lease-up. Evolve at the Pines opened earlier this year. It features amenities such as a saltwater pool, fitness center, clubhouse, dog park and electric vehicle charging stations.

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Alta-Watkins-Morrisville
DevelopmentNewsNorth CarolinaSoutheast

Wood Partners, PGIM to Break Ground on Research Triangle Project

by Lynn Peisner

MORRISVILLE, N.C. — Wood Partners and PGIM are planning to break ground this spring on Alta Watkins in the northwest Raleigh suburb of Morrisville. Developers estimate the 357-unit community will be complete by late 2028. Alta Watkins will be comprised of one-, two- and three-bedroom units and amenities that include a resort-style pool, three outdoor courtyards, a pet spa, a fitness center and a podcast lounge. The property also will offer rentable offices for remote work, event space and short-term stay units for guests. Alta Watkins represents Wood Partners’ third …

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DevelopmentNewsNorth CarolinaSoutheast

Alliance Residential Buys Land for Metro Charlotte’s Broadstone Bryton

by Lynn Peisner

HUNTERSVILLE, N.C. — Alliance Residential Co. has closed on a 20.4-acre land sale for the development of Broadstone Bryton, a 359-unit community in Huntersville, 12 miles north of Charlotte. The Arizona-based developer estimates the project will be complete by the second quarter of 2028. The Broadstone Bryton site is adjacent to the Bryton Town Center and part of the 450-acre Bryton master-planned community. Broadstone Bryton will feature 10 three story residential buildings and a freestanding clubhouse. Cline Design Associates is the architect. Amenities to support the one-, two- and three-bedroom …

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Skyview-at-Aria-Monroe
DevelopmentFinanceNewsNorth CarolinaSoutheast

Aria Communities Secures $53.5M in Financing for Metro Charlotte Development

by Lynn Peisner

MONROE, N.C. — JLL Capital Markets has arranged $53.5 million in debt and equity for the construction of Skyview at Aria, a 338-unit development in Monroe, 27 miles southeast of Charlotte. South Carolina-based Aria Communities is the developer/borrower. The $42.7 million loan was secured through United Bank Inc. Parse Capital provided the preferred equity. Completion of the project, located on 22 acres at 3613 W. Highway 74, is slated for 2027 and will include a mix of one-, two- and three-bedroom units. Amenities will include a center courtyard with a …

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Merritt-Apartments-Huntersville
DevelopmentNewsNorth CarolinaSoutheast

Woodfield Development Completes Merritt Apartments in Metro Charlotte

by Lynn Peisner

HUNTERSVILLE, N.C. — Woodfield Development has completed Merritt Apartments, a 354-unit property in the Charlotte suburb of Huntersville. The project team included Fosselman Construction as the general contractor, Housing Studio as the architect, and Shelton Taylor Associates overseeing interior design. Leasing began in December 2025. Situated on approximately 23 acres at 13111 Tadeo Drive, Merritt Apartments offers a mix of studio, one-, two- and three-bedroom units, ranging from 758 to 1,813 square feet. Select residences include private fenced yards, mudroom-style entries or built-in shower benches, along with smart thermostats and …

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Brookside-at-NoDa-Charlotte
DevelopmentNewsNorth CarolinaSoutheast

RangeWater to Break Ground on 316-Unit Charlotte Property

by Lynn Peisner

CHARLOTTE, N.C. — RangeWater Real Estate and equity partner ParkProperty Capital plan to break ground in late March on an unnamed project in the NoDa (North Davidson) area of Charlotte. First move-ins are slated for completion by 2027. RangeWater’s in-house contractor RangeWater Construction will serve as builder, marking the subsidiary’s fifth overall project and its first in North Carolina. The 16.7-acre site at 200 Atando Ave. will be home to 316 studio through three-bedroom units and amenities such as a pool courtyard with outdoor dining and grilling areas, a flexible …

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Laurel-View-Concord
Investment SalesNewsNorth CarolinaSoutheast

Northmarq Arranges $41.4M Sale of Laurel View in Concord, North Carolina

by Lynn Peisner

CONCORD, N.C. — Gamma Real Estate has sold Laurel View Apartments in Concord to Southwood Realty for $41.4 million. Northmarq’s Carolinas Investment Sales Team that arranged the sale was led by Andrea Howard, John Currin, Austin Jackson, Jeff Glenn and James Dorsett. Developed in 2017 on approximately 11 acres, the 174-unit property is located 20 miles northeast of Charlotte. The community features one-, two- and three-bedroom floor plans outfitted with luxury vinyl plank flooring, granite countertops, stainless steel appliances, walk-in closets and patios or balconies. Amenities include a fitness center, …

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