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JLL has arranged $28 million in equity and a $65.2 million construction loan for The Joinery Phase II mixed-use development in Charlotte, NC.

CrowdStreet Investors Flock to Participate in $93M Charlotte Multifamily Project

JLL has arranged $28 million in equity and a $65.2 million construction loan for The Joinery Phase II, a two-building, 361-unit, mid-rise multi-housing development with 17,384 square feet of ground-floor retail in Charlotte, NC’s Mill District.

Travis Anderson, Cory Fowler, Warren Johnson and Ryan Pride of JLL represented the sponsors, Space Craft and Swinerton, to arrange equity on the CrowdStreet online real estate investing platform. JLL also worked on behalf of the sponsors to secure the construction loan through Benefit Street Partners.

Over 480 individual investors on CrowdStreet participated in the equity offering. “The Joinery Phase II swiftly hit the fundraising goal in less than two days, with investors offering more than the $28 million that was needed to fully fund the project,” said Jesse Maas, CrowdStreet managing director.

The Joinery Phase II will feature studio, one-, two- and three-bedroom units. The retail floor will offer boutiques, coffee shops, neighborhood services and local businesses.


Inside The Story

CrowdStreet's Maas

About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.

  • ◦Development
  • ◦Financing
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