JLL Capital Markets brokers 191 million loan for Fenton, a premier mixed-use urban village project in Cary, NC

  

Kelsey Bawcombe

ATLANTA, GA –  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.

 

JLL Capital Market’s Debt Advisory team representing the borrower was led by Managing Directors Chip Sykes and Vice President Kelsey Bawcombe.

Chip Sykes

"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."

 

 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.

Downtown Fenton, Cary, NC

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.

 

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. The commercial component is complemented by The Allison at Fenton, a premier residential community situated atop the dynamic urban streetscape of Fenton.

 

Contact:

 

 Gréta Kieras

 Senior Associate

 Public Relations

Phone: +1 949 930 8498  

Email: greta.kieras@jll.com