Beach Co. Lands $90M Financing for Hillsborough Rental Community
The Beach Co. will begin work on its 346-unit project, Persimmon at Cates Creek, in Hillsborough between interstates 40 and 85. Site work was completed in 2025. The Triad Business Journal reports that Larson Capital Management provided $35 million in equity, while a $54 million construction loan was provided by First Horizon Bank.
The Beach Co. will start vertical construction on the 30 townhomes first with delivery of the first units expected in December. Construction on the 316 apartments will begin shortly after the townhomes with completion targeted for 2027.
The apartments will have one-, two-and three-bedroom layouts while the townhomes will have two and three bedrooms. The apartments will range from 760 to 1,600 square feet.
The two-bedroom townhomes will be a 1,250-square-foot flat stacked on top of the 1,560-square-foot three-bedroom townhomes. Each townhome will have its own single-car garage with direct access to units.
Amenities for the rental community will include a swimming pool, picnic areas, fitness center, entertainment lounges and a community club room.
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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
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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