Grubb Properties Secures $50.6M Construction Financing For Multifamily Property In Chapel Hill, NC

The multifamily property located at 411 Flemington Rd in Chapel Hill, NC recently underwent a closed transaction. Developed by Grubb Properties, the property consists of 304 units. The deal was facilitated by brokers Nate Sittema, Kristen Reilley, Elliott Voreis, and Ben Hardee from CBRE. The transaction involved a construction financing loan. The loan amount for the deal was $50,600,000.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $50,600,000
• Units: 304
• Market: Chapel Hill, NC
• Landlord: Grubb Properties
• Brokers: Nate Sittema, Kristen Reilley, Elliott Voreis, and Ben Hardee - CBRE
• Loan Type: Construction Financing

The involvement of brokers Nate Sittema, Kristen Reilley, Elliott Voreis, and Ben Hardee from CBRE showcases the efforts put forth by these individuals to successfully close the transaction. The construction financing loan played a pivotal role in supporting the development of the multifamily property located at 411 Flemington Rd in Chapel Hill, NC.