Berkadia has arranged senior construction financing for The One at Hope Mills, a 360-unit garden-style multifamily development in Fayetteville, NC. Senior Managing Director Mitch Sinberg and Managing Directors Brad Williamson, Scott Wadler and Matt Robbins secured acquisition financing on behalf of the sponsor, One Real Estate Investment. City National Bank of Florida with Abanca provided the $47 million floating rate construction loan for the project. Construction is set to begin in Q3 2020 with completion expected by H2 2024.
Located at 3680 Elk Road, The One at Hope Mills will consist of 11 three-story buildings and a clubhouse spread across 46 acres six miles southwest of downtown Fayetteville. Residents will enjoy one-, two-, and three-bedroom floor plans along with best-in class amenities such as a resort style pool; outdoor cabana; game room featuring billiards & shuffleboard; state-of -the art fitness center & more!
Partnership Establishes Multifamily Sale Pricing Benchmark Along SR-78
Stos Partners, in collaboration with multifamily operator Apartment Worth and an institutional investor, has successfully concluded the sale of 938
Steve Griffin
November 24, 2024
