City National Bank Of Florida And Abanca Provide $47M Construction Loan For Fayetteville Multifamily Property

A $47 million floating rate construction loan has been provided by City National Bank of Florida with Abanca for the development project located at 3680 Elk Road in Fayetteville, NC. The asset type of this project is MultiFamily consisting of 360 units.

Summary of transation details

• Property Type: MultiFamily
• Transaction Amount: $47,000,000
• Address: 3680 Elk Road
• Market: Fayetteville, NC
• Lender: City National Bank of Florida with Abanca
• Landlord: One Real Estate Investment
• Landlord's Rep: Mitch Sinberg, Brad Williamson, Matthew Robbins & Scott Wadler - Berkadia
• Loan Type: Construction

Berkadia, represented by Mitch Sinberg, Brad Williamson, Matthew Robbins, and Scott Wadler, acted as the landlord's representative in this deal. The $47 million floating rate construction loan was provided by City National Bank of Florida with Abanca to finance the project.