Aria Snags $53M Financing for Charlotte-Area Apartment Venture
Aria Communities obtained $42.7 million in construction financing and $10.2 million in preferred equity for Skyview at Aria, a 338-unit multifamily development project in Monroe, North Carolina, a Charlotte suburb.
The loan was secured through United Bank Inc and Parse Capital was the preferred equity provider.
Skyview at Aria, located at 3613 W Hwy 74 is positioned near Poplin Place Shopping Center, Rolling Hills Country Club, Monroe Crossing Mall and Crooked Creek Park.
Skyview at Aria features a unit mix of 96 one-, 212 two- and 30 three-bedroom apartments across eight three-story buildings on 22 acres. The community will offer private balconies or terraces.
Residents will have access to resort-style amenities including a center courtyard with pool, outdoor kitchen with grills, fitness center, putting green, clubhouse and walking trails.
JLL Capital Market’s Debt Advisory team was led by Taylor Allison, Brad Woolard and Ryan Mueller.
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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