CLOSED | Preferred Equity for Multifamily Acquisition in Charlotte, North Carolina
January 6, 2019
THE CAMPBELL TEAM has announced the closing of a Preferred Equity raise to facilitate its clients acquisition of a 400-unit apartment complex located Charlotte, North Carolina. Carlton Partner Michael Campbell handled the transaction and led the capital raise along with Senior Managing Director Steve Fenster.
The Preferred Equity investment was structured as “True” preferred equity which enabled the investment to be subordinate to an existing Fannie Mae loan. The investment will be used to upgrade/modernize the clubhouse and pool, and update all of the kitchens and bathrooms in the complex.
The Preferred Equity was procured from an international investor and Campbell secured on behalf of a successful family office with a strong presence in the Southeast United States.
Aside from arranging high leverage, creative debt solutions, Carlton specializes in accessing equity capital from high net worth, family office and balance sheet investors. Carlton prides itself on navigating complex transactions and providing creative solutions to facilitate transactions.
Michael Campbell – Partner
THE CAMPBELL TEAM