Bridge Investment Holdings Provides $50M Refi for North Carolina Apartments
The loan will refinance Harrington Square, a 349-unit complex that opened in 2020 in Wilmington
By Brian Pascus August 8, 2024 12:59 pm
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Latitude Management Real Estate Holdings has secured $50 million to refinance Harrington Square, a 349-unit Class A apartment complex that opened in 2020 in Wilmington, N.C.
Bridge Investment Holdings supplied the four-year, floating-rate bridge loan, while a JLL Capital Markets debt advisory team of Brian Halpern, Jeff Sause, Ward Smith, Jason Rosin and Jalynn Borders arranged the financing.
“We are proud to have facilitated the loan for this luxury apartment complex,” said Smith. “The refinancing will provide stability and further enhance the property’s value, reinforcing its role as a premier residential destination in the Wilmington market.”
Latitude Management Real Estate Holdings purchased the 14-building Harrington Square in 2021, a year after it was finished, and added an additional 16 units. The apartment complex also includes a 11,375-square-foot retail component.
Amenities include an outdoor pool, a fitness studio, a yoga studio, a dog park, a media room with billiards, and a Starbucks barista station.
L.A.-based Latitude Management Real Estate Holdings did not respond to requests for comment.
Brian Pascus can be reached at bpascus@commercialobserver.com
