Natixis Lends $80M Refinance of North Carolina’s Osprey at Lake Norman
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.
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 firstname.lastname@example.org.