Troutman Sanders Counsels Kane Realty Corp. in Development Venture
RALEIGH – October 21, 2015 – Troutman Sanders LLP announced today that it represented a Kane Realty Corp.-led development venture in connection with a $75 million loan for a North Carolina residential and retail property from AIG Investments. The transaction was highlighted in a Law360 article .
The financing is for Kane’s mixed-use Stanhope Student Apartments development, a 300-unit, 822-bed property near North Carolina State University’s Raleigh campus for 20 years at a fixed rate. The residential portion of the property is completely occupied for the 2015-16 school year, and CVS Health Corp. and the International House of Pancakes have leased half the retail space at the property.
Raleigh partner Amanda Mann, led a team of lawyers in the firm’s North Carolina offices in connection with various aspects of the transaction.
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