Aerial view of an active construction site at 1100 South Columbia Street showing concrete structures, construction equipment, workers, and surrounding trees.
Loan Amount
$28,700,000
Financing Type
Private Debt Fund
Property Type
Condo - Construction
Chapel Hill, NC

Construction Completion Loan

Elowen Capital arranged a $28,700,000 18-month interest-only construction completion loan through a private debt fund for the recapitalization and completion of a 59-unit condominium development in Chapel Hill, NC. Funds were used to take out the existing construction lender, return LP equity, and provide additional proceeds for the completion of the project.