Natixis Lends $80M Refinance of North Carolina’s Osprey at Lake Norman

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Natixis Real Estate Capital closed on a deal to lend an $80 million debt package for the refinance of a North Carolina multifamily asset, Commercial Observer has learned.

The New York City-based lender provided the five-year, floating-rate loan for The Osprey at Lake Norman in Mooresville, N.C., on behalf of Columbia, S.C.-based developer Atrium Development. Natixis Managing Director Michael Magner led the transaction.

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Cooper Horowitz’s Richard Horowitz and David Horowitz arranged the financing.

“We were very happy to work with Atrium Development on this high-quality Class A multifamily project,” Magner, who is co-head of real estate and hospitality for Natixis’ corporate and investment banking, Americas, said in a statement. 

Located at 134 Village Club Drive, The Osprey at Lake Norman consists of 288 luxury apartment units in six, four-story buildings. Amenities in the 17-acre property include a clubhouse, shoreline access to fishing docks, fitness center, a pool and a rooftop terrace.

The Osprey at Lake Norman development is part of the overall Langtree at the Lake Community that was constructed in phases.

“The developer has been a longtime client of ours for more than 30 years,” David and Richard Horowitz said in a joint statement. “It is a high-quality Class A institutional property.” 

Atrium Development did not immediately respond for comment.

Andrew Coen can be reached at acoen@commercialobserver.com.