Buckingham Cos. has obtained $36 million in refinancing for the 240-unit Plat 4 at Research Triangle in Durham, N.C.
Commercial Edge reports ACRE provided the floating rate, interest-only bridge loan to refinance the existing construction funds that were provided by Stifel in 2021.
Plat 4 at Research Triangle came online last year and sits on 22 acres at 5510 Primary Drive. The garden-style offers studio, one-, two-, and three-bedroom floor plans. Units range from 543 to 1,371 square feet and feature private balconies or patios…