Guardian Capital And New York Life Real Estate Investors Secure $37.75M Loan For Graces Reserve Apartments

The asset involved in this transaction is Graces Reserve Apartments, a 240-unit garden-style multifamily complex located at 900 Graces Reserve Circle in Kannapolis, NC. The property, built in 2021, features modern units complete with patios and balconies, along with amenities such as a saltwater pool, fitness center, and pet park, situated in a rapidly growing Charlotte-area market.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $37,750,000
• Landlord: Guardian Capital & New York Life Real Estate Investors
• Loan Type: Acquisition
• Loan Amount: $37,750,000
• Market: Kannapolis, NC

The deal was facilitated by brokers Maxx Carney, Logan Petersmeyer, James Rogers, and Dan Rosenberg from Bellwether Enterprise (BWE), who arranged the financing for Guardian Capital and New York Life Real Estate Investors’ acquisition of the property, which will include planned renovations.