Madison Capital Group has successfully secured $34.3 million in financing for the development of Madison Aquiline, a high-end garden-style apartment community located in the thriving Research Triangle area encompassing Raleigh, Durham and Chapel Hill. The funding for this project is being provided by Centennial Bank.
The affiliate company of Madison Capital Group, known as Madison Communities, will be responsible for constructing 218 units featuring luxurious amenities such as granite countertops and an integrated clubhouse with a fitness center. The property will also boast a pool and pool deck equipped with grilling stations and a fire pit. Other notable features include a café island with wet bar, cyber lounge, flexible workspaces and coffee bar.
The Research Triangle continues to experience significant growth both in terms of population and economy. Wake County has now become the most populous county in North Carolina surpassing pre-pandemic employment levels.
The Raleigh-Durham region remains highly sought after for its potential growth opportunities. In particular Apex has seen unprecedented expansion over recent years with its population increasing by 90% since 2010 adding approximately 33,600 new residents during that time period.
This latest investment marks another successful venture by Connect CRE’s investor who continues to demonstrate their commitment towards developing upscale properties within prime locations like the Research Triangle area.
