$42M Construction Loan for Huntersville Project Secured
Diamondback Investment Group has secured a $42 million construction loan to develop a new apartment community on a vacant site in Huntersville.
Caldwell Station NC LLC will develop a 20-building multifamily community with 297 units, containing mostly garden-style apartments but also some for-rent townhouses. Caldwell Station NC LLC acquired the 20.8-acre tract at 17355 Old Statesville Road in 2015 for $3.8 million, according to Mecklenburg County real estate records.
The project, called Caldwell Station Apartments Phase 1 in Huntersville planning documents, will also include 371 parking spaces and amenities like a saltwater pool, clubhouse, fitness and cardio studio, lounge area and dog park.
Brett Forman, president and CEO of Trez Forman Capital Group, arranged the construction loan. This is the fourth loan in North Carolina this year for Trez Forman, a commercial bridge lender based in Boynton Beach, Florida.