Updated Jul 9, 2025
Benefit Street Partners Provides $66 Million Loan For Kinship At Camp North End In Charlotte NC
110 Razades Way & 115 Razades Way
$66,000,000
Units
301
Asset Type
MultiFamily
Closing
Jul 7, 2025
About this deal
AI
The property involved in this transaction is a multi-family asset located at 110 & 115 Razades Way in Charlotte, NC. The site consists of 301 units and is part of a historic redevelopment project situated on the former Ford assembly plant, spanning 76 acres. The property features mixed-use amenities and was delivered last year, currently with a leasing rate of 35%. Benefit Street Partners provided a mortgage loan amounting to $66 million for this property.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $66,000,000
- Address: 110 & 115 Razades Way
- Market: Charlotte, NC
- Units: 301
- Lender: Benefit Street Partners
- Landlord: ATCO Properties & Management, Tishman Capital Partners, Altes Capital & Blueprint Local LLC
- Broker: WelcomeLend
The deal involves key participants including the landlord representatives from ATCO Properties & Management, Tishman Capital Partners, Altes Capital, and Blueprint Local LLC. WelcomeLend acted as the broker for this transaction, facilitating the connections between all parties involved.
On the Map
$66,000,000
MultiFamily
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Players
Charlotte MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.24%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93