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| Jane Wu (photo courtesy Connect Commercial Real Estate) |
CHARLOTTE, NC – JLL Capital
Markets announced it has arranged $44.5 million in financing for the
development of Lumeo, a 314-unit, transit-oriented, multifamily project in the
University submarket of Charlotte, North Carolina.
JLL
worked on behalf of the developer, Panorama Holdings, LLC, to secure the
construction loan through Broadshore Capital Partners.
“We’re committed to provide high-quality products bettering the
living of the residents in the University City community,” says Jane Wu,
president of Panorama Holdings.
“Lumeo is strategically located at the center of University City Entertainment District, within walking distance to Topgolf, LYNX Station and Belgate Shopping Center.
"We have confidence in Lumeo that its fascinating location and carefully designed luxury amenities will suit the dynamic and urban lifestyle here.”
“Lumeo is strategically located at the center of University City Entertainment District, within walking distance to Topgolf, LYNX Station and Belgate Shopping Center.
"We have confidence in Lumeo that its fascinating location and carefully designed luxury amenities will suit the dynamic and urban lifestyle here.”
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| Lumeo, a planned 314-unit, transit-oriented, multifamily project in the University submarket of Charlotte, NC |
The JLL debt placement team leading the financing efforts included
Senior Managing Director Hal Kempson and Director Taylor Allison.
JLL’s Project
& Development Services group has been engaged
to handle development and construction management for the property.
“Prior to the light rail’s delivery, the University submarket of
Charlotte had been slow to develop,” said Kempson.
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| Hal Kempson |
“Now that the light rail is built out, we anticipate tremendous rent growth, similar to what we witnessed in the South End neighborhood.
"Communities such as Lumeo are poised to benefit from this trend and will enjoy long-term stability, especially given the University market’s connectivity to UNC Charlotte and the recent inbound migration we’ve seen to secondary markets such as Charlotte due to the current pandemic.”
The first units at Lumeo are scheduled to be delivered in December 2020 and the entire project will be completed in 2021.
The project comprises five garden-style buildings on a 10-acre parcel immediately adjacent to the University City Boulevard LYNX station and just one-half mile from Tom Hunter station.
The community is centrally located in an amenity-rich area between UNC Charlotte and Uptown, deriving demand from both the student and professional population.
With various one bedroom, two-bedroom and three-bedroom options, Lumeo features both outdoor community living and indoor relaxation space.
Residents will enjoy the large upscale clubhouse, a resort-style saltwater pool with sun deck, and courtyards with gas grills, bar and fire pit.
A full fitness center with a yoga room couples with a walking trail throughout the community that will be a perfect fit for an active lifestyle.
The project comprises five garden-style buildings on a 10-acre parcel immediately adjacent to the University City Boulevard LYNX station and just one-half mile from Tom Hunter station.
The community is centrally located in an amenity-rich area between UNC Charlotte and Uptown, deriving demand from both the student and professional population.
 |
| Taylor Allison |
With various one bedroom, two-bedroom and three-bedroom options, Lumeo features both outdoor community living and indoor relaxation space.
Residents will enjoy the large upscale clubhouse, a resort-style saltwater pool with sun deck, and courtyards with gas grills, bar and fire pit.
A full fitness center with a yoga room couples with a walking trail throughout the community that will be a perfect fit for an active lifestyle.
Contact:
Kristen
Murphy
JLL Senior Manager
Public Relations
Phone: +1
617 848 1572
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