{"id":1004207665,"date":"2018-02-21T07:29:52","date_gmt":"2018-02-21T15:29:52","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004207665"},"modified":"2022-12-08T19:34:35","modified_gmt":"2022-12-09T03:34:35","slug":"hff-arranges-loan-for-mixed-use-raleigh-high-rise","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/hff-arranges-loan-for-mixed-use-raleigh-high-rise\/","title":{"rendered":"HFF Arranges Loan for Mixed-Use Raleigh High-Rise"},"content":{"rendered":"<p>By Adina Marcut<\/p>\n<div id=\"attachment_1004207666\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/02\/600-North-West-St.-Raleigh-N.C..png\" target=\"_blank\" rel=\"noopener noreferrer\"><img decoding=\"async\" aria-describedby=\"caption-attachment-1004207666\" data-attachment-id=\"1004207666\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/hff-arranges-loan-for-mixed-use-raleigh-high-rise\/600-north-west-st-raleigh-n-c\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/02\/600-North-West-St.-Raleigh-N.C..png\" data-orig-size=\"800,644\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"600 North West St. Raleigh, N.C.\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/02\/600-North-West-St.-Raleigh-N.C..png?w=800\" loading=\"lazy\" class=\"wp-image-1004207666 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/02\/600-North-West-St.-Raleigh-N.C..png\" alt=\"600 North West St. Raleigh, N.C.\" width=\"300\" height=\"242\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/02\/600-North-West-St.-Raleigh-N.C..png 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/02\/600-North-West-St.-Raleigh-N.C..png?resize=300,242 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/02\/600-North-West-St.-Raleigh-N.C..png?resize=768,618 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004207666\" class=\"wp-caption-text\">600 North West St. Raleigh, N.C.<\/p><\/div>\n<p>HFF has secured a construction loan for a mixed-use\u00a0project\u00a0in the Glenwood South corridor of Raleigh\u2019s central business district. The company worked on behalf of the developer, a joint venture\u00a0of Williams Realty and Building Co., Kane Realty Corp. and Lionstone Investments. The financing was obtained through New York Life Insurance Co. Kane and Williams first announced plans\u00a0for the\u00a0development\u2014 estimated to cost up to $100 million\u2014last year.<\/p>\n<p>The new 11-story structure will be\u00a0located at 600 N. West St., on the southwest corner of West Peace and North West streets. The property will include\u00a0a 45,600-square-foot Publix grocery store\u2014the first in Raleigh&#8217;s downtown\u20145,340 square feet of in-line retail space and 417 residential units. The residential component will feature a mix of studio, one-, two- and three-bedroom units averaging 898 square feet.\u00a0A\u00a0735-space structure garage will serve both the retail and the housing uses.\u00a0<\/p>\n<h2>Two-year project<\/h2>\n<p>The\u00a0high-rise\u00a0is part of the multi-phase Peace and West redevelopment that will include a total of 445 residential units, 61,000 square feet of retail and 257,000 square feet of parking space. Phase two will include street-level retail as well as office and hotel spaces.\u00a0Construction of the first phase is scheduled to be completed in 2020.<\/p>\n<p>Managing Director Colby Mueck, Senior Director Roger Edwards and Senior Managing Director Travis Anderson were part of the debt team that represented the borrower. Mueck was also involved with the $123 million financing of\u00a0<a href=\"https:\/\/www.commercialsearch.com\/news\/frost-bank-tower-lands-123m-refi\/\">Austin trophy asset<\/a>\u00a0Frost Bank Tower last year.<\/p>\n<p><em>Image via Google Street View<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The residential and grocery-anchored retail property will be developed in two phases and will include 445 units, 61,000 square feet retail space and 257,000 square feet parking space. <\/p>\n","protected":false},"author":436,"featured_media":1004207666,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,21825,21752,21742,1604],"tags":[32792,38600,36276,39156],"class_list":["post-1004207665","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-finance","category-mixed-use","category-latest","category-raleigh-durham","tag-hff","tag-kane-realty-corporation","tag-new-york-life-insurance-company","tag-williams-realty-and-building-company"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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