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JLL Secures $191M Loan For Fenton Mixed-Use Development In Cary NC Representing Hines Affinius Capital Columbia Development
FINANCED
$191,000,000
North Carolina
See Similar DealsMixed-use429,000 SF
Financed 01/17/2025
FINANCED
JLL Secures $191M Loan For Fenton Mixed-Use Development In Cary NC Representing Hines Affinius Capital Columbia Development
201 Fenton Gateway Drive
See Similar DealsMixed-use429,000 SF
Financed 01/17/2025
Summary
NORTH CAROLINA
Asset Type:Mixed-use
Price Per Square Foot:$445
Total Square Footage:429,000 SF
Transaction Type:Loan
The asset involved in this transaction is a mixed-use development located at 201 Fenton Gateway Drive, Cary, NC. It encompasses a total square footage of 429,000, with 357 multifamily units. The development includes 246,000 square feet of retail and 183,000 square feet of office space, strategically positioned near Research Triangle Park and Downtown Raleigh.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $191,000,000
- Lender: New York Life Real Estate Investors
- Landlord: Hines, Affinius Capital & Columbia Development
- Brokers: Chip Sykes & Kelsey Bawcombe - JLL
This transaction was facilitated by JLL Capital Markets, which secured the $191 million senior mortgage on behalf of the landlords involved. The engagement highlights the collaborative efforts of the multiple stakeholders in the mixed-use development sector within the Cary, NC area.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$191,000,000.00
Monthly NOI$1,273,333.33
Monthly Debt Service$1,207,249.92
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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