Madison Capital Group has closed $34,265,000 in financing for the development of Madison Aquiline, a luxury garden-style multifamily community located within the Research Triangle, which spans Raleigh, Durham and Chapel Hill. Centennial Bank is providing the financing.
“Madison Aquiline will provide an exceptional living experience by combining luxury, convenience and access to both small-town charm and the dynamic job market of the Raleigh-Durham area,” said Ryan Hanks, CEO of Madison Capital Group. “The growth of the Research Triangle, particularly in Apex, makes this an ideal location for our next multifamily development.”
The development will offer residents access to the small-town charm of Apex’s town center and the broader job market and amenities of the Raleigh-Durham metropolitan area. Apex’s main street is known for its array of local pubs, restaurants, art galleries and boutiques, providing a traditional small-town atmosphere within reach of one of the nation’s fastest-growing regions.
The Research Triangle continues to see significant population and economic growth. Wake County, now the most populous county in North Carolina, has seen employment levels surpass pre-pandemic numbers.
The Raleigh-Durham area remains a hotspot for growth, with neighboring towns like Cary experiencing a 34% population increase between 2010 and 2022. Apex, in particular, has experienced unprecedented growth, with a 90% increase in population since 2010, adding approximately 33,600 new residents during that time.
Warren Johnson and Travis Anderson with JLL represented Madison Capital Group.
Madison Communities is an affiliated company of Madison Capital Group, a vertically integrated real estate development and investment firm focused on building high-quality, suburban, garden-style apartment communities throughout the Southeast.
