Keystone National Supplies $46M Construction Loan for N.C. Apartments

reprints





South Florida-based developer Volta Global has sealed $45.75 million of construction financing to build a multifamily asset in North Carolina, Commercial Observer can first report. 

Keystone National provided the fixed-rate loan on Volta’s planned Patrick’s Pointe project in Southern Pines, N.C. 

SEE ALSO: Large Office Conversion in Old Town Alexandria Scores $88M

Meridian Capital Group arranged the transaction with a team led by Drew Anderman, Eddie Haber and Sheya Lundner

Located on West Rhode Island Avenue in Southern Pines, Patrick’s Pointe will comprise 240 garden-style apartments and 26 two-story townhomes.

The property’s amenities will include a community clubhouse, a fitness center, a swimming pool, an outdoor kitchen, a golf simulator, a dog park, a kids play area and outdoor fire pits. It will also feature 30 garage units with ChargePoint electric vehicle chargers.

Volta has been active with a number of  projects in the Carolinas. Its portfolio is largely concentrated in multifamily, self-storage and hospitality properties primarily in the Southeast U.S. and Europe.

Officials at Keystone National and Volta Global did not immediately return requests for comment.

Andrew Coen can be reached at acoen@commercialobserver.com 

More

   

WE WANT YOU!

are you a developer?

  • Proven International Track Record
  • Vertically Integrated Federal Funds
  • Vertically Integrated Tax Credits
  • Vertically Integrated Investors
  • Vertically Integrated Lenders
  • Vertically Integrated Contractors