Barings has provided a loan of $134 million to refinance the existing loan on Smoky Hollow, a mixed-use development in Raleigh. The project was completed in 2020 by a joint venture between Kane Realty Corporation, Williams Realty & Building Company, and Lionstone Investments.
Smoky Hollow features three components: The Line, which is a Class-A apartment complex with 283 units; 421 N Harrington, an office building spanning over 229,000 square feet with top-notch amenities; and approximately 40,000 square feet of ground floor retail space housing various restaurants and retailers.
The financing from Barings has a term of five years. JLL’s Travis Anderson , Colby Mueck , and Warren Johnson advised the sponsors on securing this financing.
According to Barings , this deal expands their real estate debt platform worth $24.2 billion. This platform utilizes their team’s expertise in direct origination and credit analysis to invest in loans backed by high-quality commercial real estate properties.
Joint Venture Secures $134M Refinancing for Raleigh Mixed-Use Project
In order to refinance the existing loan on Smoky Hollow – an impressive mixed-use development located in Raleigh – Barings has provided funding amounting to $134 million. This project was successfully delivered last year through collaboration between Kane Realty Corporation , Williams Realty & Building Company as well as Lionstone Investments .
Smoky Hollow boasts multiple elements including “The Line” – an upscale apartment complex comprising of 283 units classified under Class-A category; “421 N Harrington” -a state-of-the-art office building covering over two hundred twenty-nine thousand square feet equipped with premium amenities; along with around forty thousand square feet area dedicated for ground floor retail space that houses diverse dining options as well as renowned retailers.
This financial assistance offered by Barings comes with five-year terms while sponsorship received guidance from JLL’s experienced professionals namely Travis Anderson , Colby Mueck and Warren Johnson .
Barings has stated that this particular transaction is a significant addition to their real estate debt platform worth twenty-four point two billion dollars. This platform utilizes the team’s expertise in direct origination and credit analysis to invest in loans secured by top-notch commercial real estate properties.
