Mission Properties Secures $47M Construction Loan From Josh Zegen Of Madison Realty Capital For Townhome Community

The asset involved is a single-family residence (SFR) located at 1429 Ridge Road in Charlotte, NC. Mission Properties is developing a 198-unit build-to-rent townhome community known as Ridge Road Townes, which is currently in the early stages of construction with site work already underway.

Summary of transaction details:

• Property Type: SFR
• Transaction Amount: $47,000,000
• Lender: Josh Zegen - Madison Realty Capital
• Landlord: Mission Properties
• Brokers: Nate Sittema, Elliott Voreis & Owen Hall - CBRE
• Loan Type: Construction

This transaction involves key contributors in the real estate sector, including lender Josh Zegen, who represents Madison Realty Capital in the financing arrangement. The collaborative effort of brokers Nate Sittema, Elliott Voreis, and Owen Hall from CBRE facilitated this construction financing for Mission Properties.