Kane Realty Corporation Secures $85 Million Construction Loan For Multifamily Development In Raleigh

The property asset involved in this transaction is a multifamily development located at 510 West Cabarrus Street in Raleigh, NC. The project, known as West End II, includes 252 luxury apartments and 4,000 square feet of retail space. The total loan amount secured for the development is $85,000,000, which is classified as construction financing.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $85,000,000
• Loan Type: Construction
• Landlord: Kane Realty Corporation
• Brokers: Jovi Rodriguez, Ryan Pride & Warren Johnson - JLL
• Market: Raleigh, NC

JLL Capital Markets played a crucial role in this deal by securing both joint venture equity and construction financing for Kane Realty Corporation's project. This transaction marks the investor's entry into the Raleigh-Durham market, expanding their portfolio in the region.