Newmark Brokers $48M Construction Loan For Multifamily Project In Arden, NC

The multifamily property located at 2177 Brevard Road in Arden, NC has undergone a closed transaction involving a construction loan. The property spans a total area of 311,631 square feet and comprises 319 units. The loan amount for this transaction was $48,000,000.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $48,000,000
• Address: 2177 Brevard Road, Arden, NC
• Market: Arden, NC
• Asset Type: Multifamily
• Square Feet: 311,631
• Units: 319

The lender for this transaction was Wintrust, represented by Al Weel and Brian Harrigan. The landlords involved in the deal were URS, represented by Chris Urso and Chris Gorman, as well as Advantis, represented by Richard Zahn and Navish Chawla. The brokers responsible for facilitating the transaction were Jordan Roeschlaub, Dustin Stolly, and Daniel Matz from Newmark.