TWO Capital Breaks Ground on Charlotte Suburb Community
Capital Club will be a 312-unit community in Indian Land, S.C. Patterson arranged a preferred equity investment from RSE Capital Partners as well as a construction loan from Texas Capital Bank and HomeTrust Bank.
By Laura Calugar
Rendering of Capital Club at Indian Land in Charlotte, N.C.
TWO Capital Partners, along with its capital advisor Patterson Real Estate Advisory Group, began construction on Capital Club at Indian Land, a 312-unit multifamily asset in Indian Land, a suburb of Charlotte, N.C. Patterson arranged a construction financing with RSE Capital Partners, Texas Capital Bank and HomeTrust Bank. Construction is anticipated to take roughly 24 months, with lease-up commencing at the end of next year.
Located at 160 Fort Mill Highway, at the intersection of two major thoroughfares and just across the South Carolina state line, the community will be close to a Walmart Supercenter and within a 40-minute drive to downtown Charlotte. The property will include flats, townhomes and direct-entry units, with one-, two- and three-bedroom apartments. The community will feature an outdoor amphitheater, multiple salt water pools, sports club, cabanas, grills and fireplaces.
“We recognized the growth in Indian Land and surrounding areas like Ballantyne and Fort Mill and wanted to be a part of it. We actually began assembling and entitling the site about two years ago. Within about a one-mile radius, Red Ventures continues to grow its corporate campus, Bailes Ridge Corporate Park continues to attract new tenants and MPV Properties’ retail development further enhances the amenity base in the area,” said TWO Capital Partner & Co-Founder Ralph Wilson, in a prepared statement.
Image courtesy of Patterson Real Estate Advisory Group
