Riverside Investment & Development Company Secures $245M Construction Loan From Apollo For Charlotte Office Tower

The asset involved in this transaction is a development site located at 1111 South Tryon Street in the Charlotte, NC market. The project encompasses the construction of a 43-story office tower with a total area of 397,000 square feet. The total loan amount secured for this construction project is $245,000,000.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $245,000,000
• Lender: Apollo
• Landlord: Riverside Investment & Development Company
• Loan Type: Construction
• Additional Financing: $105,000,000 in structured equity from a joint venture
• Target Completion: 2028

This financing arrangement positions Riverside Investment & Development Company to initiate construction on the office tower at the Queensbridge Collective in Charlotte. The deal highlights the collaboration between Apollo and Riverside in advancing the development project.