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| Kelsey Bawcombe. |
ATLANTA, GA, Jan. 17, 2025 – JLL Capital Markets has secured a $191 million senior mortgage for Fenton, a premier mixed-use development located in Cary, North Carolina.
JLL represented the borrowers, a
partnership consisting of Hines, Affinius Capital and Columbia Development, in
securing the loan from New York Life Real Estate Investors.
Fenton is strategically located
near the intersection of Cary Towne Blvd. and I-40, which offers exceptional
connectivity to the wider Raleigh-Durham-Chapel Hill area. This vibrant
mixed-use development benefits from proximity to prominent employment hubs such
as the Research Triangle Park and is just 15 minutes west of Downtown Raleigh.
The Raleigh-Durham Triangle area,
formally known as the Research Triangle Region, is a vibrant and rapidly
growing metropolitan hub home to over two million residents.
Chip Sykes
Fenton is an experiential
mixed-use urban village, featuring over 246,000 square feet of retail space
housing 42 diverse tenants, 183,000 square feet of modern office space and 357
multifamily units delivered in 2022-2023.
JLL Capital Market’s Debt
Advisory team representing the borrower was led by Managing Directors Chip
Sykes and Vice President Kelsey Bawcombe.
"This financing underscores
Fenton's standing as a transformative development within Cary and the broader
Triangle area," said Sykes. "The commitment reflects confidence in
the project's best in class mixed-use place making and the development teams
unmatched execution abilities."
Contact:
Gréta Kieras,
Senior Associate,
Public Relations
Phone: +1 949 930 8498
Email: greta.kieras@jll.com
