SunTrust leads in $66.7 construction loan for Midtown Plaza in Raleigh

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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.

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