Barings has provided a loan of $134 million to refinance the existing loan on Smoky Hollow, a mixed-use development in Raleigh. The project was completed in 2020 by a joint venture between Kane Realty Corporation, Williams Realty & Building Company, and Lionstone Investments.
Smoky Hollow consists of three components: The Line, a Class-A apartment complex with 283 units; 421 N Harrington, an office building spanning 229,000 square feet and offering top-notch amenities; and approximately 40,000 square feet of ground floor retail space featuring various restaurants and retailers.
The financing from Barings has a five-year term. JLL’s Travis Anderson Colby Mueck ,and Warren Johnson advised the sponsors on securing this financing.
According to Barings , this transaction is part of their $24.2 billion real estate debt platform that utilizes their team’s expertise in direct origination and credit assessment to invest in loans secured by high-quality commercial real estate properties.
In summary:
– Barings provided $134 million for refinancing Smoky Hollow.
– The project was developed by Kane Realty Corporation , Williams Realty & Building Company,and Lionstone Investments.
– It includes an apartment complex (The Line), an office building (421 N Harrington),and ground floor retail space.
– JLL assisted with securing the financing for the sponsors.
– This transaction expands Barings’ real estate debt platform which focuses on investing in loans secured by top-quality commercial properties.
