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Canyon Partners Real Estate Provides $48M Senior Loan to Refinance Class-A Multifamily Property in Greenville

WD
  • Canyon Partners Real Estate LLC provided a $48 million senior loan for the cash-neutral refinancing of NorthPointe Apartments in Greenville, SC.
  • The loan supports a joint venture between ECI Group & Central Realty Holdings for the Class-A multifamily property completed in 2021.
  • NorthPointe Apartments includes 286 residential units, 21,400 square feet of retail space, & 597 parking spaces within 248,000 square feet.
  • Walker & Dunlop Capital Markets Real Estate Finance arranged the transaction.
  • This financing marks Canyon's fifth transaction with ECI Group, following previous investments in four other properties.
  • Robin Potts, Canyon's Chief Investment Officer, cited the asset's high quality & strong performance against a challenging supply backdrop.
  • Seth Greenberg, ECI Group CEO, highlighted Canyon as a valued partner with a flexible approach for long-term property plans.
  • Justin Nelson, Walker & Dunlop Senior Managing Director, noted the property's strong fundamentals & proximity to downtown Greenville.
  • Canyon has capitalized $7.6 billion across all asset types in the Southeast & continues pursuing multifamily opportunities nationwide.
  • ECI Group manages over 7,500 units throughout the Southeast & Texas, while Central Realty Holdings has operated since 1926 in South Carolina.