Lansing Melbourne Group Secures $6.5 Million Loan For Trenton Mill Lofts In Gastonia NC

Trenton Mill Lofts is an 85-unit multifamily development located at 612 West Main Avenue in Gastonia, NC. The property is situated approximately 20 miles west of Charlotte. Recently, a loan of $6,500,000 was secured for recapitalization purposes to fund key energy efficiency improvements and associated soft costs. This financing is part of a 2022 adaptive reuse project that aimed to enhance the historic Trenton Mill.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $6,500,000
• Loan Type: Recapitalization
• Loan Terms: 30
• Lender: Ryan Doyle & Victor Sison - Nuveen Green Capital
• Landlord: Lansing Melbourne Group
• Units: 85

The deal was led by Ryan Doyle, who serves as Senior Director of Originations at Nuveen Green Capital. Together with Victor Sison, they facilitated the financing that allows for substantial improvements to the multifamily development.