CHARLOTTE, N.C., Feb. 14,
2024 /PRNewswire/ -- Canyon Partners Real Estate LLC
("Canyon") announced today that it has provided a $15.6 million preferred equity investment
relating to the recapitalization of Towerview at Ballantyne
("Towerview"), a Class-A, high-rise residential community in the
Ballantyne submarket of Charlotte, North
Carolina.
Built in 2021, Towerview is the first Class-A, high-rise
residential community in Ballantyne, an affluent neighborhood
approximately 25 minutes south of Uptown Charlotte, known for its
top-rated public school system and prominent corporate employers.
Towerview features modern floor plans with quartz countertops and
stainless-steel appliances and offers a complete amenity package
inclusive of a dog run, resort style pool, indoor and outdoor sky
lounge, private dining room, resident wine bar, fitness center, dry
sauna and hot tub.
Towerview marks Canyon's fifth investment in the Charlotte market. Most recently, Canyon
provided $35.9 million of LP equity
for the development of the Abernethy
Lofts, a 392-unit, Class-A multifamily community in the NODA
submarket of Charlotte.
Canyon has been an active provider of debt and equity in
multifamily and continues to invest in real estate projects in
primary and secondary markets across the
United States. Since its inception, Canyon has invested
~$2.7 billion in debt and equity to
capitalize ~$13.2 billion of total
projects across multifamily investments.
Eastdil Secured, L.L.C arranged the preferred equity for the
recapitalization. Travis Anderson,
Warren Johnson, and Jovi Rodriguez with JLL Capital Markets
facilitated the senior loan financing for the transaction.
About Canyon Partners LLC
Founded in 1991, Canyon
Partners Real Estate LLC ("Canyon") is the real estate direct
investing arm of Canyon Partners, LLC, a global alternative asset
manager with approximately $24.5
billion in assets under management. Over the last ten years,
Canyon has invested approximately $5.6
billion of debt and equity capital across over 200
transactions capitalizing approximately $21.5 billion of real estate assets, focusing on
debt, value add, and opportunistic strategies. With 30+ years of
experience, Canyon has established a broad menu of investment
capabilities spanning property types, US regions, and project
stages (including development, transitional, and
distressed/workouts). For more information visit:
www.canyonpartners.com.
About Eastdil Secured
As the most relevant and trusted
advisor in the commercial real estate capital markets, Eastdil
Secured creates value for clients through creative, actionable
ideas and flawless execution. With an unrivaled combination of
capital markets expertise and in-depth understanding of real estate
fundamentals, Eastdil Secured delivers best-in-class advice on
mergers and acquisitions, sales, joint ventures, debt placement,
structured credit and loan sales to investors around the world.
Headquartered in New York, Eastdil
Secured has a broad global footprint to support clients with
offices across the United States
in Atlanta, Boston, Charlotte, Chicago, Dallas, Los
Angeles, Miami,
Orange County, San Francisco, Seattle, Silicon Valley and Washington, D.C., and internationally in
Dubai, Dublin, Frankfurt, London, Milan, Paris,
Hong Kong and Tokyo. For more information on Eastdil
Secured, the global real estate investment bank, please visit
www.eastdilsecured.com.
About JLL
For over 200 years, JLL (NYSE: JLL), a
leading global commercial real estate and investment management
company, has helped clients buy, build, occupy, manage and invest
in a variety of commercial, industrial, hotel, residential and
retail properties. A Fortune 500® company with annual revenue of
$20.9 billion and operations in over
80 countries around the world, our more than 105,000 employees
bring the power of a global platform combined with local expertise.
Driven by our purpose to shape the future of real estate for a
better world, we help our clients, people and communities SEE A
BRIGHTER WAYSM. JLL is the brand name, and a registered trademark,
of Jones Lang LaSalle Incorporated. For further information, visit
jll.com.
Media Contacts
Kris
Cole
Prosek Partners
(310) 614 9208
pro-canyon@prosek.com
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SOURCE Canyon Partners LLC