SR Real Estate Partners and Circle Squared Alternative Investments procured $77 million for the refinancing of Junction 49, a new 754-bed student housing community located at 7600 University City Boulevard in Charlotte near UNC Charlotte campus. The loan was provided by Macquarie Capital Principal Finance.
The borrowers were represented by the Cushman & Wakefield Equity, Debt & Structured Finance team of Gideon Gil, Zach Kraft, Dale Braverman and Travis Prince.
Junction 49 amenities include private and group study rooms on each floor, an oversized lounge area, a game room, a grab-and-go market, a 24-hour fitness center, a resort-style pool, a hot tub, poolside cabanas, outdoor grilling stations and two courtyards. The property is adjacent to the LINX Blue Line light rail, which offers convenient access to both the UNC Charlotte campus and Downtown Charlotte.
Junction 49 is the heart of Charlott. Charlotte is a major economic hub that houses numerous corporate headquarters, including nine Fortune 500 companies. Beyond the high-rises of the central business district and lively entertainment venues, Charlotte’s landscape features a mix of picturesque homes, historic buildings, luxury apartments, and lush greenery.
Known as the Queen City, Charlotte is North Carolina’s busiest city with over 800,000 residents. Tagged as “Charlotte’s got a lot” by the community, this bustling urban oasis offers diversity, cultural experiences, and endless adventures. Enjoy live performances, family-friendly events, local cuisine, and a vibrant nightlife scene. Charlotte offers easy access to major interstates, a public transit line, and proximity to the Charlotte Douglas International Airport. Projections are a 3.5 percent annual rent growth rate for the University of North Carolina Charlotte.
