Madison Communities has successfully secured an $80 million construction loan for its latest project, a 320-unit multifamily community located in the vibrant Lower South End (LoSo) neighborhood of Charlotte, North Carolina. The financing was provided by META Real Estate Partners and Bank of America. Acting as the capital advisor, Patterson Real Estate Advisory Group facilitated the sourcing of this loan.
The new development will be situated next to Olde Mecklenburg Brewery, which is known as Charlotte’s oldest brewery. To accommodate brewery patrons, dedicated parking will be included in the project plans. Additionally, Madison Capital Group has announced that it will relocate its corporate headquarters to a property directly adjacent to Olde Mecklenburg Brewery.
Conveniently located at the intersection of S. Tryon Street and E.Peterson Drive,the community offers easy access to amenities such as Scaleybark light-rail station within walking distance.This provides residents with convenient transportation options throughout South End,Uptown Charlotte,and beyond.The neighborhood has also undergone revitalization through adaptive reuse projects that have transformed historic warehouses into retail spaces,making it an attractive live-work-play destination.
This news marks another successful venture for Madison Communities and showcases their commitment towards creating thriving communities in dynamic locations like LoSo.Charlotte’s growth potential combined with strong partnerships from lenders like META Real Estate Partners and Bank of America make this project a promising investment opportunity.
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