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PCCP Refis Charlotte Multifamily Community for $57M
PCCP, LLC has provided a $57 million loan for the cash neutral refinance of Metro University City. The 309-unit mid-rise multifamily community comprises four buildings at 404 Gallop Lane in Charlotte.
Meridian Capital Group, with a team led by Seth Grossman, secured the loan.
The asset features top-of-market interior finishes including stainless steel appliances, in-unit washers/dryers, granite countertops, high ceilings, vinyl plank flooring throughout, and private balconies. On-site amenities include an expansive clubhouse with WiFi, a saltwater pool, fitness center with a yoga room, outdoor kitchen and grilling areas, and dog park and spa.
The community, completed in 2021, is 97-percent leased.
“PCCP is pleased to continue to deploy capital on high-quality, new vintage multifamily in the Charlotte market. Owned by an experienced multifamily investor with over 12,000 currently owned apartment units, the property has had favorable leasing activity,” said Brian Haber, a Managing Director with PCCP.
- ◦Financing

