Miami, FL, August 23, 2024 - Locust Park Capital, a leading international commercial real estate capital advisory firm, announced today the successful placement of $20 million in joint venture (JV) equity capital for the development of a Class A multifamily project in Charlotte, North Carolina. The total project value is estimated at $75 million.
The equity capital was secured from a prominent domestic family office based in California. The project sponsor is a well-established local developer with over 30 years of experience in the Charlotte market.
"Charlotte continues to be a market in high demand for multifamily development," said Keith Lee, CEO of Locust Park Capital. "The city boasts strong fundamentals, including exceptional population and job growth, coupled with a high median income. We are thrilled that this experienced local developer entrusted us with securing a significant portion of the equity for this exciting project. We look forward to a long-lasting partnership and collaborating on their future endeavors."
Locust Park Capital specializes in providing comprehensive capital market solutions for commercial real estate projects across the globe. The firm offers a wide range of services, including joint venture equity, sponsor equity, debt financing, and mezzanine financing. Locust Park Capital has a proven track record of successfully raising 90-95% of the required equity for projects, along with structuring the most advantageous debt solutions for their clients.
About Locust Park Capital
Locust Park Capital is a premier international commercial real estate capital advisory firm. We offer a comprehensive suite of innovative capital markets solutions, including joint venture equity, sponsor equity, debt financing, and mezzanine financing. Our team of experienced professionals is dedicated to providing our clients with the best possible outcomes for their commercial real estate projects.
Contact
Locust Park Capital, LLC
Keith Lee
(305) 707-7495
www.locustparkcapital.com
