Canyon Partners Real Estate Provides $15.6M Preferred Equity For Towerview At Ballantyne
13230 Ballantyne Corporate Place
$15,600,000
Building Size
—
Asset Type
MultiFamily
Closing
Feb 14, 2024
AI
13230 Ballantyne Corporate Place is the location of Towerview at Ballantyne, a newly built high-rise residential community in Charlotte, North Carolina's upscale Ballantyne submarket. Canyon Partners Real Estate LLC provided a $15.6 million preferred equity investment for this multifamily asset.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $15,600,000
- Address: 13230 Ballantyne Corporate Place
- Market: Charlotte, NC
- Lender: Josh Friedman - Canyon Partners Real Estate
- Brokers: Jovi Rodriguez, Travis Anderson & Warren Johnson - JLL
- Loan Type: Recapitalization
Josh Friedman from Canyon Partners Real Estate led the financing with a $15.6 million preferred equity investment. Jovi Rodriguez, Travis Anderson, and Warren Johnson from JLL represented the transaction as brokers.
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
1.02%
Cash-on-Cash
-0.29%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93