Grubb Properties is building a new apartment community in Chapel Hill. The developer secured a $34.2 million construction loan from PGIM Real Estate Finance for the project called Link Apartments Linden.
The 215-unit apartment community is being built on a site about one mile from the University of North Carolina at Chapel Hill.
The development is the first phase of the Glen Lennox redevelopment, a public-private partnership between the Town of Chapel Hill and Grubb Properties that will include 3 million-sq.-ft. of office, residential, retail and hotel space across 70 acres over the next 20 years.
Link Apartments Linden will share a parking deck with a to-be-developed, 106,000-sq.-ft., Class A office park.