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Buckingham Inks Refi on Durham Rental Community
Buckingham Cos. has obtained $36 million in refinancing for the 240-unit Plat 4 at Research Triangle in Durham, N.C.
Commercial Edge reports ACRE provided the floating rate, interest-only bridge loan to refinance the existing construction funds that were provided by Stifel in 2021.
Plat 4 at Research Triangle came online last year and sits on 22 acres at 5510 Primary Drive. The garden-style offers studio, one-, two-, and three-bedroom floor plans. Units range from 543 to 1,371 square feet and feature private balconies or patios.
Common-area amenities comprise two dog parks, a swimming pool, a barbecue and picnic area, as well as a billiard area and a business center. The property also has a coffee bar, clubhouse, fitness center, lounge area, outdoor fire pit, EV charging stations, conference and focus rooms.
Walker & Dunlop’s Sean Reimer, Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz, and Dustin Stolly, along with Michael Ianno and Stanley Cayre, led the team that arranged the transactions.
- ◦Financing
