North Carolina

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. …

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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 …

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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 …

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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 …

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Maizon-Durham
DevelopmentNewsNorth CarolinaSoutheast

ZOM Living Opens Maizon Durham

by Lynn Peisner

DURHAM, N.C. — ZOM Living and AEW Capital Management have completed Maizon Durham, a 248-unit property in downtown Durham. The community features 13,000 square feet of street-level retail, a resort-style pool, coworking spaces, a pet spa, a fitness center with a spin studio and a café. Units are offered as studio, one-, two- and three-bedroom floor plans ranging from 558 to 1,450 square feet. Hord Coplan Macht was the architect, and One Line Design Studio handled interior design. The developer is seeking food and wellness tenants for the commercial space.

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Park-Central-Apartments
Investment SalesNewsNorth CarolinaSoutheast

Fairfield Buys Midtown Raleigh High-Rise for $132.5 Million

by Lynn Peisner

RALEIGH, N.C. — KBS has sold Park Central Apartments, a 286-unit luxury high-rise community with ground-floor retail in Raleigh, to Fairfield Residential for $132.5 million. KBS developed the property with partner Raleigh-based Kane Realty Corp., delivering it in 2017. According to KBS, it is the first high-rise in Raleigh’s North Hills neighborhood. Amenities include a sky deck with a saltwater pool, a clubhouse, sauna, a dog spa, fitness and conference centers and a parking garage for residents. The units sit above 36,000 square feet of retail, including, casual dining restaurant …

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Autumn-Park-Oxford
NewsNorth CarolinaOperationsSoutheast

29 Street Living Tapped to Manage Autumn Park in North Carolina

by Lynn Peisner

OXFORD, N.C. — Chicago-based 29th Street Living has been selected to manage Autumn Park Apartments, a 128-unit community in Oxford, about 40 miles north of Raleigh, North Carolina. The asset is owned by New York City-based Newbrook Capital. Autumn Park was built in 2005 and offers one-, two- and three-bedroom units. Amenities include a pool and a 24-hour fitness center.

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Plat4-Durham
ColoradoFinanceNewsNorth CarolinaSoutheastWestern

Buckingham Cos. Secures $110 Million ReFi for Two Newly Built Assets

by Lynn Peisner

DURHAM, N.C., LOVELAND, COLO. — Walker & Dunlop has arranged a $110 million refinancing for Buckingham Cos., an Indianapolis-based real estate investment firm. The sponsor will use the financing, consisting of two floating-rate bridge loans, to refinance existing construction loans on two properties, Plat 4 at Research Triangle in Durham and Plat 10 at the Ranch in Loveland. Both properties were delivered in 2024. Plat 4 at Research Triangle is a 24-unit community consisting of six buildings. Plat 10 at the Ranch is a seven-building complex with 353 units. Walker …

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Nines-at-Kierland-Scottsdale
ArizonaColoradoGeorgiaInvestment SalesNevadaNewsNorth CarolinaSouth CarolinaSoutheastWestern

Sunroad Sells $1.1 Billion Portfolio to Fairfield

by Lynn Peisner

SAN DIEGO — Sunroad Enterprises has sold a 15-property portfolio to Fairfield for $1.1 billion. Both firms are based in San Diego. The portfolio includes properties in six states: six in Arizona, one in Nevada, three in Colorado, two in North Carolina, two in South Carolina and one in Georgia. The deal took six years to put together. JLL, representing Sunroad, arranged the sale as well as a $415 million Freddie Mac loan for 10 of the assets and an additional $250 million in fixed-rate senior debt provided by KKR. …

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Jordan-McCarley
NewsNorth CarolinaPeople NewsSouth CarolinaSoutheast

Jordan McCarley Joins Cusman & Wakefield’s Carolinas Team

by Lynn Peisner

CHARLOTTE, N.C. — Jordan McCarley has joined Cushman & Wakefield’s Carolinas Multifamily team. With the title executive vice chair, McCarley will lead the Carolinas team alongside Blake Okland, Paul Marley and Alex McDermott. The Carolinas Institutional Multifamily Advisory team is part of the firm’s Sunbelt Multifamily Advisory Group, which is an 85-person investment sales team covering 14 states.

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