“Raleigh Mixed-Use Project Secures $134M Refinancing with JV Partnership”

"Raleigh Mixed-Use Project Secures $134M Refinancing with JV Partnership"

Barings has recently provided a $134 million loan to refinance the existing debt on Smoky Hollow, a mixed-use development located 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 an upscale apartment complex called “The Line” with 283 units, as well as a state-of-the-art office building spanning over 229,000 square feet known as “421 N Harrington.” Additionally, there is approximately 40,000 square feet of ground floor retail space that includes various restaurants and retailers.

The financing from Barings has a five-year term and was advised by JLL’s Travis Anderson Colby Mueck ,and Warren Johnson. According to Barings’ statement , this transaction further expands their real estate debt platform which currently stands at $24.2 billion. Their team’s expertise in direct origination and credit analysis allows them to invest in loans secured by high-quality commercial real estate properties.

Overall,the joint venture successfully secured the much-needed refinancing for their Raleigh mixed-use project through this collaboration with Barings.

About the Publisher:
Steve Griffin is based in sunny Palm Harbor, Florida. He’s an accountant by profession and the owner of GRIFFIN Tax and REVVED Up Accounting. In addition, Steve founded Madison Avenue Technology. With a strong passion for commercial real estate, he’s also dedicated to keeping you up to date with the latest industry news.

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