Barings has recently provided a $134 million loan to refinance the existing debt on Smoky Hollow, a mixed-use development located 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 features an upscale apartment complex called “The Line” with 283 units, as well as a state-of-the-art office building spanning over 229,000 square feet known as “421 N Harrington.” Additionally, there is approximately 40,000 square feet of ground floor retail space that includes various restaurants and retailers.
The financing from Barings has a five-year term and was advised by JLL’s Travis Anderson Colby Mueck ,and Warren Johnson. According to Barings’ statement , this transaction further expands their real estate debt platform which currently stands at $24.2 billion. Their team’s expertise in direct origination and credit analysis allows them to invest in loans secured by high-quality commercial real estate properties.
Overall,the joint venture successfully secured the much-needed refinancing for their Raleigh mixed-use project through this collaboration with Barings.
