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Allen Ridge
FinanceInvestment SalesNewsNorth CarolinaSoutheast

Joint Venture Secures $25.4 Million Financing for North Carolina Build-to-Rent Asset

by Channing Hamilton

GREENVILLE, N.C. — A joint venture partnership between Eminent Capital and Corten Real Estate has received a $15.7 million loan and $9.7 million of joint venture equity for Allen Ridge, a 125-unit build-to-rent (BTR) community in Greenville.  Located at 1005 Allen Ridge Dr., the community features townhome-style duplex units. Allen Ridge was built in two phases, with phase I completed in 2008 and Phase II in 2023. The asset was 98.4 occupied at the time of the transaction. JLL Capital Markets helped create the joint venture partnership. JLL also worked …

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Linea
DevelopmentNewsNorth CarolinaSoutheast

Portman, National Real Estate Advisors Complete 24-Story Apartment Tower in Charlotte, North Carolina

by Channing Hamilton

CHARLOTTE, N.C. — Portman and National Real Estate Advisors have delivered Linea, a 24-story apartment tower located at 2161 Hawkins St. in Charlotte’s South End neighborhood. The property features 370 units, as well as 18,000 square feet of ground-floor retail space.  Apartments at Linea range from 522 to 1,723 square feet in size. Units come in studio, one-, two- and three-bedroom floor plans. The property also offers 13 penthouses. Shared amenities at Linea include concierge services such as package delivery, in-home grocery and dry-cleaning delivery and plant and cat care. …

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Jeff Furman
NewsNorth CarolinaPeople NewsSoutheast

Aventon Cos. Appoints Jeff Furman as Senior Managing Director

by Channing Hamilton

RALEIGH, N.C. — Aventon Cos., a Raleigh-based developer and general contractor, has hired Jeff Furman to the role of senior managing director. Furman will work to acquire new sites to develop new suburban apartment communities while managing existing developments. He will concentrate on the Raleigh-Durham and Charlotte metropolitan areas. Prior to joining Aventon Cos., Furman was a developer partner and the director of Raleigh operations at Northwood Ravin. He has also served as director of development for Crosland LLC. Furman graduated from the University of Texas at Austin with a Master of Science …

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Caci Jaeger
Company NewsNewsNorth CarolinaPeople NewsSoutheast

Rosewood Property Hires Caci Jaeger to Lead New Office in Charlotte, North Carolina

by Channing Hamilton

CHARLOTTE, N.C. — Rosewood Property Co., a Dallas-based investment and development company, has opened a new office in Charlotte. Additionally, the company hired Caci Jaeger to lead the new office as senior vice president of Carolinas. In her new role, Jaegar will manage and direct multifamily development activities throughout the region. She will also oversee the office’s operations and staff. Jaeger previously served as a partner with Charlotte-based Cedar Square. She has also held positions with LCOR Inc. and Corebridge. She earned her undergraduate degree in urban studies from Brown …

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HARMON Jefferson Village
Build-to-RentDevelopmentNewsNorth CarolinaSoutheast

Crescent Communities Breaks Ground on BTR Project in Greensboro, North Carolina

by Channing Hamilton

GREENSBORO, N.C. — Crescent Communities has broken ground on HARMON Jefferson Village, a 130-unit build-to-rent townhome community situated on 16 acres in Greensboro. The community will offer three- and four-bedroom townhomes ranging from 1,650 to 2,165 square feet. HARMON Jefferson Village is set to open in summer 2025. Residents will have access to amenities such as a pool with a pavilion and grilling station, event lawn for gatherings and trailhead access for outdoor recreation. An account managed by Heitman LLC is the equity partner on the project. The development team …

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DevelopmentLeasing & MarketingNewsNorth CarolinaSoutheast

Joint Venture Opens 336-Unit Community in Morrisville, North Carolina

by Channing Hamilton

MORRISVILLE, N.C. — A joint venture between Crescent Communities and GID has opened Novel Morrisville, a 336-unit community located at 218 Southport Drive in Morrisville, roughly 15 miles west of Raleigh, North Carolina. The property offers a mix of studio, one-, two- and three-bedroom floor plans, as well as 10 carriage-style townhomes. Units range from 532 square feet to 2,128 square feet. Amenities include a saltwater pool with cabanas, two-story fitness center, community library, clubroom, full-scale indoor rock-climbing wall, walking and biking trails and an on-site Land of a Thousand …

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Matheson-Mill-Broadstone-1
DevelopmentNewsNorth CarolinaSoutheast

Alliance Residential Completes Broadstone Project in Charlotte

by Lynn Peisner

CHARLOTTE, N.C. — Alliance Residential Co. has opened Matheson Mill by Broadstone, a 302-unit community in Charlotte’s North Davidson, or NoDa, neighborhood. Matheson Mill by Broadstone consists of one- and two-bedroom units. The Charlotte-based development team included architect Cline Design, civil engineer McAdams Co. and interior designer LS3P. Matheson Mill features a 24-hour fitness center, resort-style saltwater pool and an outdoor dining area with grilling station, pergola and fire pit. The community’s resident clubroom features vintage style arcade games, a gas fireplace and entertainment kitchen. Other amenities include coworking areas, …

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Brooklyn & Church in Charlotte, North Carolina
DevelopmentFinanceNewsNorth CarolinaSoutheast

Joint Venture Secures Construction Financing for Office-to-Residential Conversion Project in Charlotte, North Carolina

by Channing Hamilton

CHARLOTTE, N.C. — A joint venture comprising MRP Realty, Asana Partners and Rockefeller Group has received construction financing for Brooklyn & Church. The project will convert the former Duke Energy headquarters, located at 526 S. Church St. in Charlotte, into a 460-unit community with 57,000 square feet of retail space. The Duke Energy headquarters was originally built in 1975. MRP Realty and Asana Partners acquired the building in 2022. The building’s core and shell will be preserved, but the façade will be reskinned with new windows and balconies. Once converted, …

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DevelopmentNewsNorth CarolinaSoutheast

Denholtz, LMG Open Novi Lofts in Concord, North Carolina

by Channing Hamilton

CONCORD, N.C. — Denholtz and Lansing Melbourne Group (LMG) have opened Novi Lofts, an 89-unit mixed-use complex located at 26 Union St. in Concord, about 25 miles northeast of Charlotte, North Carolina. The community offers studio, one- and two-bedroom units. Novi Lofts also includes 5,134 square feet of retail space, including a rooftop restaurant and a pilates studio that is scheduled to open in March. Novi Lofts is the third and final piece of the Novi portfolio, which consists of three mixed-use communities in downtown Concord. The portfolio also includes Novi …

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DevelopmentFinanceNewsNorth CarolinaSoutheast

Millstone Receives Construction Financing for 225-Unit Development in Wilmington, North Carolina

by Channing Hamilton

WILMINGTON, N.C. — Indianapolis-based Millstone has secured construction financing for Venture at Port City, a 225-unit project located three miles south of downtown Wilmington. Slated for completion in spring 2027, the property will consist of three four-story buildings. Apartments will come in one-, two- and three-bedroom floor plans. Amenities will include a pool, gas grilling stations, clubhouse and outdoor cabana with a poolside lawn area. Greysteel worked on behalf of the sponsor to secure the three-year, floating rate loan through a regional bank. Greysteel also arranged an undisclosed amount of …

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