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 slated to begin in Q3 2021 with completion expected by H2 2024.
The 46 acre property located at 3680 Elk Road will consist of 11 three-story buildings and a clubhouse six miles southwest from downtown Fayetteville featuring one-, two-, and three bedroom floor plans with best-in-class amenities such as resort style pool, outdoor cabana area , game room equipped with billiards & shuffleboard table plus state of art fitness center .
