Canyon Partners Real Estate Invests $16.9 Million in Raleigh, NC North Hills Multifamily Development

July 30, 2018

For Immediate Release

Los Angeles, CA – July 30, 2018 – Canyon Partners Real Estate LLC® (“Canyon”) has provided a $16.9 million preferred equity investment to Kane Realty Corporation (“Kane”) to finance the ground-up construction of Vine North Hills, a six-story, 326-unit, Class-A apartment building in Raleigh’s highly sought-after submarket of North Hills, a 140-acre, 2.5 million square foot master planned development. Vine North Hills is Canyon’s second multifamily investment in the Raleigh market, having recently invested $10.3 million to develop ParkStone at Knightsdale.

Canyon’s experience as a capital provider across asset classes includes a long history in multifamily investing. In the past five years alone, Canyon has deployed over $800 million in multifamily investments across the U.S. through senior loans, mezzanine loans, preferred equity and equity, facilitating over $2.4 billion of investments.

Vine North Hills is proximate to major transportation arteries such as I-440, I-540 and I-40, allowing residents easy access to all parts of Raleigh and the greater Research Triangle. Located on a 4-acre parcel on St. Albans Drive, Vine North Hills is the first phase of the 33-acre multi-phased North Hills East Expansion, a submarket that has emerged as a major employment center having attracted many finance, investment, real estate and professional services firms. Employers, residents and approximately 8.4 million annual visitors are drawn to its walkable urban environment, 40 restaurants, 125 retailers, 500 hotel rooms, and 300 annual events.

Vine North Hills will include a mix of studios, one-, two- and three-bedroom units with amenities including quartz countertops, large kitchen islands, stainless steel appliances, in-unit front-loading washers and dryers, frameless glass walk-in showers and garden tubs, and balconies. Community amenities will include a clubhouse with hospitality kitchen, lounge and game rooms, an indoor/outdoor two-story fitness center, saltwater pool, courtyard with a lawn area, plus grills and a firepit, dog washing facility, a bike center, package locker system and storage units.

About Canyon Partners Real Estate LLC
Founded in 1991, Canyon Partners Real Estate LLC® (“Canyon”) is the real estate direct investing arm of Canyon Partners, LLC, a global alternative asset manager with over $24 billion in assets under management. Over the last ten years, Canyon has invested more than $4.5 billion of debt and equity capital across 160+ transactions capitalizing approximately $11 billion of real estate assets, focusing on debt, value add, and opportunistic strategies. With 27 years of experience, Canyon has established a broad menu of investment capabilities spanning property types, US regions, and project stages (including development, transitional, and distressed/workouts).

For more information visit: www.canyonpartners.com.

MEDIA CONTACT:
Maureen Richardson
River Communications
(914) 686 5599
[email protected]

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