Holliday Fenoglio Fowler, L.P. (HFF) announces construction financing for the development of a 1,080+-unit, Class A, climate-controlled self storage facility located in Uptown Charlotte, North Carolina.
The HFF team worked on behalf of the borrower, East 7th St, LLC, to place the construction loan with a commercial bank.
Situated on a one-acre land site, the facility will be located at 969 East 7th Street in Charlotte’s Uptown area at the convergence of three highly visible thoroughfares, Interstate 277, Independence Boulevard and 7th Street. The seven-story facility will total approximately 90,725 net rentable square feet with approximately 2,150 square feet of commercial space. Once completed in early 2019, the project will be third-party managed by CubeSmart.
“Uptown Charlotte is undergoing tremendous growth, and we are excited to develop a state-of-the-art self storage facility that will serve as an amenity to all surrounding residents and business users,” said William Andrews, partner with East 7th St, LLC.
“Upon completion, this will be the largest self storage property inside Uptown Charlotte’s 277 Loop,” Bowman said. “The project’s convenient location and accessibility will be attractive to the increasing number of renters gravitating toward Uptown.”
The HFF debt placement team included senior director Brent Bowman and senior managing director Travis Anderson.
About HFF
HFF and its affiliates operate out of 25 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform, including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). For more information, please visit hfflp.com or follow HFF on Twitter @HFF.
