Mecklenburg Times: News for Mecklenburg, Union and Iredell counties Real Estate, Development, Construction, and Community News in the Charlotte area and throughout Mecklenburg, Union and Iredell counties
Proffitt Dixon Partners has acquired 3.5 acres for the Fountains at Ballantyne apartments and on Monday, Trinity Capital Advisors announced it had sold the land at 12135 N. Community House Road.
Also on Monday, Holliday Fenoglio Fowler announced it had secured the joint venture equity and construction financing on behalf of developer Proffitt Dixon Partners. HFF arranged the capital with The Carlyle Group and $29 million in construction financing through TD Bank.
Due for completion in summer of 2018, the property in the Toringdon Office Park will have 245 studio, one-, two- and three-bedroom units within a four-story wrapped deck-style building. Units will feature expansive master closets, computer niche workstations, pantries and linen closets, stainless steel appliances, stand-up showers, and in-unit washers and dryers.
Common area amenities include an 8,000-square-foot clubhouse and fitness center; a resort-style swimming pool with sun deck; a courtyard with gas grills, bar and fire pit; a fenced dog park and a pet wash station.
The HFF debt and equity placement team representing the developer was led by senior managing director Travis Anderson, director Allan Lynch, managing director Justin Good and associate director Cory Fowler.
“Charlotte’s Ballantyne submarket is one of the most moved-to zip codes in the United States due to the influx of new development and steady job growth,” said Anderson in the release. “Combined with its position within Toringdon Office Park and its proximity to Interstate 485, Fountains at Ballantyne is a unique live-work-play community strategically positioned for healthy lease-up and overall success once completed.”
Staff report
