Apollo Supplies $245M Construction Loan for Charlotte Office Tower
The second phase of Queensbridge Collective project also secured $105 million structured equity investment from RXR, One Investment Management and Liberty Mutual Investments.
By Andrew Coen January 7, 2026 11:24 am
reprints
Riverside Investment & Development has sealed $245 million of construction financing to develop a 43-story office tower in Charlotte, N.C, Commercial Observer can first report.
Affiliates of Apollo provided the loan for the developer’s second phase of its Queensbridge Collective project that will feature an office building at 1111 South Tryon Street in Charlotte’s South End neighborhood. Concurrent with the construction loan, Riverside also secured a $105 million structured equity investment from a joint venture involving RXR, One Investment Management and Liberty Mutual Investments.
The tower will combine roughly of 356,000 rentable square feet of office space above 346 rental apartments, and will rise next to another multifamily building at 111 East Carson Boulevard. It is slated for completion in 2028.
“Capitalizing any office building in the current financing environment is extraordinarily difficult,” Rob Stanek, chief financial officer at Riverside Investment & Development, said in a statement. “We are fortunate that our capital partners were willing to creatively structure around the perceived risk associated with office development, allowing us to realize the potential of this primer location.”
Chicago-based Riverside Investment & Development announced in September that law firm Moore & Van Allen would anchor the future office building with a 15-year lease for 206,000 square feet, the Charlotte Business Journal reported at the time. Riverside also inked a 68,000-square-foot lease with insurance company Pacific Life.
“RXR is pleased to partner with the sponsorship team in this transformative development and provide a creative capital solution to allow the project to come to fruition,” Russell Young, head of investments at RXR, said in a statement. “Through our partnership-oriented flexible capital program, RXR and our partners can continue to identify and support high-demand residential and mixed-use developments with high growth and value potential across the country.”
Riverside, One Investment Management and Liberty Mutual Investments did not immediately return requests for comment. Apollo declined to comment.
Andrew Coen can be reached at acoen@commercialobserver.com.
