SunTrust Bank has served as the lead arranger for a $66.7 million construction loan for a Class A office tower in Midtown Raleigh, REBOnline reports.
Kane Realty Corp. will use the funds to develop Midtown Plaza, a 12-story, 330,000-sq. ft. office tower in North Hills, a 130-acre mixed-use development.
Allscripts, a Chicago-based healthcare information technology company, will anchor the new office development, the website reports.
Kane Realty plans to deliver the project in July 2017. SunTrust has funded two other Kane-developed projects in North Hills — CAPTRUST Tower and The Dartmouth.