North Carolina

Bainbridge Hires Marcie Williams as Chief Strategy Officer

by Channing Hamilton January 21, 2025

CHARLOTTE, N.C. — The Bainbridge Cos. has hired Marcie Williams to the position of chief strategy officer. Based in Charlotte, Williams will oversee Bainbridge’s operations, brand and growth as the company pursues portfolio expansion opportunities throughout the Sun Belt. Prior to joining Bainbridge, Williams served as CEO at RKW Residential. She previously held positions at Greystar and Camden Property Trust. Williams is also the board president of the Greater Charlotte Apartment Association, a trade association for the rental housing industry. She also serves on the membership committee for the National …

January 21, 2025

Lindsey Manor Apartments in Kernersville, North Carolina

Investment Sales News North Carolina Southeast

Gindi Equities Sells Community in Kernersville, North Carolina, for $34 Million

by Channing Hamilton January 21, 2025

KERNERSVILLE, N.C. — Gindi Equities has sold Lindsey Manor Apartments in Kernersville, 10 miles east of Winston-Salem, North Carolina, to an undisclosed buyer for $34 million. Located at 472 Lindsey St. near downtown Kernersville, Lindsey Manor Apartments consists of 222 units in one- two- and three-bedroom configurations. Gindi Equities originally acquired the asset in October 2021 for $24.5 million. The company completed a series of renovations at the property, including updates to apartment interiors, complete reroofing, new dog park and grilling area and upgrades to the pool and playground. This transaction …

January 21, 2025

Development Finance News North Carolina Southeast

Partnership Receives $191 Million Loan for Mixed-Use Development in Cary, North Carolina

by Channing Hamilton January 21, 2025

CARY, N.C. — A partnership consisting of Hines, Affinius Capital and Columbia Development has secured a $191 million senior mortgage for Fenton, a mixed-use development located in Cary, roughly 10 miles west of Raleigh, North Carolina. Chip Sykes and Kelsey Bawcombe of JLL arranged the loan through New York Life Real Estate Investors. Fenton was built between 2022 and 2023. The project features an apartment community — The Allison at Fenton — comprising 367 multifamily units, as well as approximately 246,000 square feet of retail space and 183,000 square feet of office space.

January 21, 2025

The NRP Group's Residences at Cedar Creek in Charlotte

Affordable Housing Development News North Carolina Southeast

The NRP Group Delivers Affordable Housing in Charlotte

by Lynn Peisner January 15, 2025

Charlotte, N.C. — Cleveland-based The NRP Group has completed and opened Residences at Cedar Creek, a mixed-income community located about nine miles southwest of Charlotte. The 200-unit property mainly serves residents earning between 30 and 60 percent of area median income (AMI). A few units are reserved for renters earning up to 80 percent AMI. Bank of America and KeyBank provided financing for the project. The City of Charlotte also invested $2.5 million in Housing Trust Fund gap financing, and the North Carolina Housing Finance Agency provided $22 million in …

January 15, 2025

Development News North Carolina Southeast

The Fallon Co. Breaks Ground on 234-Unit The Colwick in Charlotte, North Carolina

by Channing Hamilton November 20, 2024

CHARLOTTE, N.C. — Boston-based The Fallon Co. has begun development on The Colwick, a 234-unit community in The Cotswold neighborhood of Charlotte. Units will come in one-, two- and three-bedroom layouts. Amenities will include a pool, coworking space, pet spa and dog park, fitness center and yoga studio, courtyard with activity lawn and fireside lounge, social lounge with game room, bike storage and golf simulator. Santander Bank provided an undisclosed amount of construction financing for The Colwick. Locally based EDIFICE Construction is building the project, which is slated to deliver …

November 20, 2024

Development News North Carolina Southeast

Crescent Communities Breaks Ground on 318-Unit Novel River District in Charlotte, North Carolina

by Channing Hamilton November 15, 2024

CHARLOTTE, N.C. — Locally based developer Crescent Communities has broken ground on Novel River District, a 318-unit community in Charlotte. UMB Bank provided an undisclosed amount of construction financing for the project. The community will feature a mix of studio, one- and two-bedroom apartments. Move-ins are slated to begin in early 2026. Novel River District will be the first apartment community within The River District, a 1,400-acre master-planned development that will offer 2,350 apartments and 2,300 single-family homes at full build-out. Crescent Communities is also the developer for The River District. …

November 15, 2024

Development Finance News North Carolina Southeast

JLL Capital Markets Arranges $43.6 Million Construction Financing for McAlpine Vista in Charlotte, North Carolina

by Channing Hamilton November 1, 2024

CHARLOTTE, N.C. — JLL Capital Markets has secured a $43.6 million loan to finance the construction of McAlpine Vista, a 320-unit development in Charlotte. Matthew Schoenfeldt of JLL arranged the three-year, non-recourse, floating-rate loan through Hartford Investment Management Co. (HIMCO) on behalf of the borrower, Vista Residential Partners. Situated on 14.8 acres at 8011 Krenfeld Drive, McAlpine Vista will comprise 320 apartments. Units will come in one-, two- and three-bedroom floor plans. Amenities will include a 7,750-square-foot clubhouse with a fitness center, coworking spaces and a club room, as well …

November 1, 2024

Development News North Carolina Southeast

AvalonBay Underway on First Phase of 930-Unit Avalon Oakridge in Durham, North Carolina

by Channing Hamilton October 22, 2024

DURHAM, N.C. — AvalonBay Communities is currently underway on the development of Avalon Oakridge, a 930-unit project located along Durham-Chapel Hill Boulevard in Durham. The developer broke ground on phase I of the project, which will comprise 459 apartments, earlier this year. The first move-ins are expected to begin in the fall of 2026. Additionally, AvalonBay Communities has acquired 7.8 acres from Beacon Properties Group for Phases II and III of the development, which will comprise a further 471 apartment units. Chester Allen, Howard Jenkins and Tiffany Hilburn of CBRE …

October 22, 2024

Finance News North Carolina Southeast

Barings Provides $134 Million Refinancing for Smoky Hollow in Raleigh, North Carolina

by Channing Hamilton October 14, 2024

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 …

October 14, 2024

Investment Sales News North Carolina Southeast

Gindi Equities Sells Greenview Meadows in Gastonia, North Carolina, for $14.5 Million

by Channing Hamilton September 25, 2024

GASTONIA, N.C. — Gindi Equities has sold Greenview Meadows, a 109-unit property located at 1613 Greenview Drive in Gastonia, about 23 miles west of Charlotte, North Carolina. The community offers a mix of two- and three-bedroom apartments. The buyer was not disclosed. Gindi Equities originally purchased the asset for $10 million in February 2021. The New York City-based investment firm renovated unit interiors and upgraded the community’s amenity package with a new pet park, playground and picnic areas. Gindi Equities also renovated the pool deck.

September 25, 2024

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