Hines, Affinius Capital, and Columbia Development have successfully secured a $191 million senior mortgage for Fenton, a 92-acre mixed-use district located in the Cary submarket of Raleigh/Durham, North Carolina. This project marks Cary’s first integrated destination that combines various uses.
Fenton was established in 2021 and features 246,000 square feet of retail space along with The Allison’s 357 multifamily units and an additional 183,000 square feet of office space.
JLL Capital Markets acted on behalf of the borrowers to arrange financing from New York Life Real Estate Investors. JLL’s debt advisory team was led by Chip Sykes and Kelsey Bawcombe.
According to Commercial Search reports,Fenton is conveniently situated near Cary Town Boulevard providing easy access to the Raleigh-Durham-Chapel Hill area as well as I-40. It is only a short drive away from downtown Raleigh and has strong employment centers like Research Triangle Park nearby. With a population of over two million people in the region,the location offers great potential for growth.
The article titled “Hines-Led Team Inks Refi for Cary Mixed-Use Project” originally appeared on Connect CRE.
