RK Investors Secures $81 Million Construction Loan For 299-unit Sutherland At Piper Glen

The asset involved in the transaction is a 299-unit multifamily development located at 9621 Elm Lane in Charlotte, North Carolina. RK Investors secured a construction loan amounting to $81 million from Western-Southern Life Insurance Company for the project known as Sutherland at Piper Glen.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $81,000,000
• Address: 9621 Elm Lane
• Market: Charlotte, NC
• Units: 299
• Lender: John F. Barrett - Western & Southern Financial Group
• Landlord: RK Investors
• Brokers: Kristen Reilley, Elliot Voreis & Nate Sittema - CBRE
• Loan Type: Construction
• Leasing Expected To Begin: Fall 2027
• First Units Scheduled For Delivery: March 2028

Key parties involved in this transaction include John F. Barrett, who represents the lender Western & Southern Financial Group, along with brokers Kristen Reilley, Elliot Voreis, and Nate Sittema from CBRE, who arranged the financing for the property.