DALLAS, TX – HFF announced today that it has arranged $44.07 million in construction and mezzanine loans for the Gallery at Cameron Village, a 282-unit, Class A multi-housing community under construction in Raleigh, North Carolina.
HFF worked on behalf of the borrower, Crescent Resources, LLC, to secure the $34.29 million construction loan through Capital One. Nationwide Insurance provided the $9.7 million mezzanine loan.
The Gallery at Cameron Village is located at the northeast corner of Oberlin Road and Clark Avenue within Cameron Village, a 600,000-square-foot shopping destination within walking distance of North Carolina State University and within two miles of downtown Raleigh. Due for completion in spring 2013, the six-story building will have three-stories of structured parking plus 16,000 square feet of retail space and 8,000 square feet of resident service space. Amenities will include a clubroom with wine bar, show kitchen, gaming area, business/study center, fitness center, resort-style salt water swimming pool with an aqua sun deck and grilling stations.
The HFF team representing Crescent Resources, LLC was led by director Travis Anderson and senior managing director Tim Jordan.
“Cameron Village is the ultimate shopping and dining destination in Raleigh, and we are excited to deliver the first multifamily experience in Cameron Village,” said Brian Natwick, president of Crescent’s multifamily division. “Gallery at Cameron Village will bring luxury apartment homes with a unique design to complement this extraordinary location.” Visit www.livecameronvillage.com to learn more.
Crescent Resources is a real estate development company with interests throughout the southeastern United States. Based in Charlotte and established in 1969, Crescent Resources is known for its single family, multifamily and resort residential communities. Crescent also owns and manages business and industrial parks and shopping centers. www.crescent-resources.com
Holliday Fenoglio Fowler, LP (“HFF”) and HFF Securities LP (“HFFS”) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 19 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, advisory services, structured finance, private equity, loan sales, and commercial loan servicing. www.hfflp.com