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. 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 and high ceilings as well as vinyl plank flooring throughout and private balconies for residents to enjoy. Onsite amenities include an expansive clubhouse with WiFi access; saltwater pool; fitness center complete with yoga room; outdoor kitchen and grilling areas plus dog park and spa facilities all available to tenants of this newly completed 2021 property which is 97% leased already!
Brian Haber – Managing Director at PCCP – commented “We are pleased to continue deploying capital on high quality new vintage multifamily projects within the Charlotte market” adding that “the property has had favorable leasing activity due its experienced investor ownership who currently owns over 12000 apartment units”
