Canyon Partners Real Estate LLC (“Canyon”) announced that it has provided a $15.6 million preferred equity investment relating to the recapitalization of Towerview at Ballantyne, a Class-A, high-rise residential community in the Ballantyne submarket of Charlotte, North Carolina.
Built in 2021, Towerview is the first Class-A, high-rise residential community in Ballantyne, an affluent neighborhood approximately 25 minutes south of Uptown Charlotte, known for its top-rated public school system and prominent corporate employers.
Towerview marks Canyon’s fifth investment in the Charlotte market. Most recently, Canyon provided $35.9 million of LP equity for the development of the Abernethy Lofts, a 392-unit, Class-A multifamily community in the NODA submarket of Charlotte.
Canyon has been an active provider of debt and equity in multifamily and continues to invest in real estate projects in primary and secondary markets across the United States. Since its inception, Canyon has invested ~$2.7 billion in debt and equity to capitalize ~$13.2 billion of total projects across multifamily investments.
Eastdil Secured, L.L.C arranged the preferred equity for the recapitalization. Travis Anderson, Warren Johnson, and Jovi Rodriguez with JLL Capital Markets facilitated the senior loan financing for the transaction.
Founded in 1991, Canyon Partners Real Estate LLC is the real estate direct investing arm of Canyon Partners, LLC, a global alternative asset manager with approximately $24.5 billion in assets under management. Over the last ten years, Canyon has invested approximately $5.6 billion of debt and equity capital across over 200 transactions capitalizing approximately $21.5 billion of real estate assets, focusing on debt, value add, and opportunistic strategies. With 30+ years of experience, Canyon has established a broad menu of investment capabilities spanning property types, US regions, and project stages (including development, transitional, and distressed/workouts).
