CHARLOTTE, N.C — JLL has arranged a total of $132.9 million in construction financing for a 389-unit project located at 2125 N Davidson in Charlotte’s Mill District. Cory Fowler, Warren Johnson, Ryan Pride and Naoki Hasegawa of JLL brokered a $34.5 million equity placement with two institutional investors based in Japan on behalf of the developer, Space Craft. JLL also arranged a $98.4 million construction loan through an undisclosed direct lender.
2125 N Davidson will offer studio, one-, two- and three-bedroom units with an average size of 762 square feet. Planned amenities include a rooftop patio, courtyard, fitness room in each building, co-working space with a coffee/breakfast nook and electric car share and e-bike share for resident use. The property will also include 13,751 square feet of street-facing retail space, which Space Craft plans to lease to boutique retailers, coffee purveyors and local and neighborhood service retailers. Swinerton will build the community.