Updated Dec 4, 2025
Argentic Real Estate Finance Provides $50M Loan For Multifamily Novi At Concord Developed By Denholtz Properties
23 Market Street Southwest
$50,000,000
Units
300
Asset Type
MultiFamily
Closing
Dec 1, 2025
About this deal
AI
The asset involved in this transaction is a multifamily property consisting of 300 units located at 23 Market Street Southwest in Concord, NC. The loan amount for this property is $50,000,000, provided by Argentic Real Estate Finance.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $50,000,000
- Address: 23 Market Street Southwest
- Market: Concord, NC
- Lender: Argentic Real Estate Finance
- Landlord: Denholtz Properties
- Units: 300
This financing arrangement was executed for the three-property, 300-unit Novi at Concord apartment complex, which was developed by Denholtz Properties and Lansing Melbourne Group. The closing of this transaction illustrates the collaboration of these companies within the real estate sector in Concord, North Carolina.
On the Map
$50,000,000
MultiFamily
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Players
Concord 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
0.32%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93