Pacific Life Insurance Provides $69M Refinance Loan For Mixed-Use Development In Durham, NC

A mixed-use development located at 3806 University Drive in Durham, NC has recently undergone a refinancing transaction. The property spans across 15 acres and is owned by Hawthorne Residential Partners and Drake Real Estate Partners.

Summary of transation details

• Property Type: Mixed-use Development
• Transaction Amount: $69,000,000
• Date: 11/12/2021
• Address: 3806 University Drive
• Market: Durham, NC
• Lender: Pacific Life Insurance Company
• Landlord: Hawthorne Residential Partners & Drake Real Estate Partners
• Brokers: Josh Davis, Chris Caison & C.J. Webb - Newmark

The loan for this refinancing transaction was provided by Pacific Life Insurance Company. The team at Newmark, consisting of brokers Josh Davis, Chris Caison, and C.J. Webb, represented the parties involved in the deal.