Charlotte Apartment Developers Close on $48M Construction Loan
Capital City Real Estate and Pennington Real Estate Partners obtained a $48 million construction loan for The Mill, a 281-unit multifamily development in Charlotte’s NoDa neighborhood. Concord Summit Capital’s Justin Neelis arranged the financing, which represents a 62% loan-to-cost (LTC) structure.
The project will offer a mix of studio, one-, and two-bedroom units with an extensive lineup of amenities, including a pool, fitness center, clubroom, fire pits, dog park, pet spa, co-working space, and a sky deck with neighborhood views.
Capital City’s Scott Zimmerman added, “We are excited to bring this new community to the growing arts district of the Noda neighborhood. Our vision for The Mill was deeply inspired by the rich legacy of Noda’s historic textile mill villages. We sought to honor that heritage by weaving elements of timeless industrial character into a modern living experience.”
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Jonathan Rose Companies and Community Opportunity Fund, a nonprofit focused on expanding affordable housing and connecting residents to opportunity, announced plans for a comprehensive $32.8 million rehabilitation of Ashtabula Towers, a 202-unit affordable senior housing community in Ashtabula, Ohio. The project represents a significant reinvestment in a longstanding community asset, with updates designed to enhance...
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Atlas Capital Snags Hell’s Kitchen Apartments for Reported $150M
Atlas Capital Group has acquired 360 W. 43rd St., a 256-unit multifamily property located in Midtown Manhattan’s Hell’s Kitchen neighborhood. Although Atlas Capital did not disclose the acquisition price, Crain’s New York Business reported it as approximately $150 million, or about $586,000 per unit. The 23-story, approximately 250,000-square-foot property comprises 256 rental apartments, 13,000 square feet...
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EYA Advances Two Residential Developments in Fairfax County
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout