PCCP, LLC has provided a $57 million loan for the cash neutral refinance of Metro University City. The 309-unit mid-rise multifamily community comprises four buildings at 404 Gallop Lane in Charlotte and was completed in 2021. Meridian Capital Group, with a team led by Seth Grossman, secured the loan.
The asset features top-of-market interior finishes including stainless steel appliances, in-unit washers/dryers, granite countertops, high ceilings and vinyl plank flooring throughout as well as private balconies. Onsite amenities include an expansive clubhouse with WiFi access plus a saltwater pool and fitness center complete with yoga room; outdoor kitchen and grilling areas; dog park; spa services are also available to tenants of this luxury property which is currently 97% leased..
“We are pleased to continue deploying capital on high quality new vintage multifamily properties within the Charlotte market,” said Brian Haber Managing Director at PCCP “Owned by an experienced investor boasting over 12000 apartment units under their portfolio – leasing activity has been favorable.”
