Broadshore Capital Partners says it has closed a $44.5 million senior construction loan to Panorama Holdings for the construction of the 314-unit Lumeo apartment community in Charlotte.
The project at 7100 MacFarlane Blvd. is adjacent to the University City Light Rail stop. Samet Corp. is the general contractor.
“Broadshore’s debt program seeks to make stretch senior construction loans on multifamily projects in communities with multiple economic drivers that are being undertaken by experienced developers such as at Lumeo,” Broadshore co-CEO Bleecker Seaman said in a statement. “This loan expands our long-standing debt program to include multifamily construction lending. Changing market conditions coupled with our company’s expertise in multifamily investing allows us to seamlessly adapt our debt program to multifamily lending where we see the opportunity to provide capital where other lenders have pulled back.”
The developer has multiple multifamily communities and mixed-use projects in Charlotte, the statement said.