Hudson 5401 at 7760 Midtown Market Ave in Raleigh, North Carolina — Courtesy: Commercial Mortgage Capital
By Joshua Burd
Landmark Cos. has expanded its holdings outside New Jersey, adding a luxury rental property in North Carolina with the help of a $42.5 million loan arranged by Commercial Mortgage Capital.
According to a news release, a life insurance company provided the financing in connection with the deal at 7760 Midtown Market Ave in Raleigh, part of the rapidly expanding 5401 North district. The transaction closed in December, CMC said, noting that the 456-unit property known as Hudson 5401 has a long list of amenities and is minutes from Interstate 540, Route 401, the Neuse River Greenway and the city’s Midtown Plaza.
“We are thrilled to have played a key role in facilitating this transaction for our client, Landmark Companies of Keasbey, NJ,” said Mark Scott, president of Commercial Mortgage Capital. “Our team worked diligently to structure competitive life company financing that aligns with our client’s long-term vision for this exceptional property.”
