Chapel Hill, N.C. — Redevelopment includes mixed-use features.
Chapel Hill, N.C. — Medalist Capital has secured $36.5 million for the University of North Carolina at Chapel Hill Foundation, Inc., for Granville Towers. The property is a 716-unit student housing building that the foundation has been steadily updating and renovating.
It is part of a larger mixed-use project on Franklin Street in Chapel Hill called University Square. Granville Towers is adjacent to University Square, which is also owned by the foundation. The foundation has partnered with Atlanta-based Cousins Properties to start working on the redevelopment. Upon completion, it will include more than 500,000 square feet of retail, office and residential units.
Don Williams, Bat Barber, and Mary Neill Hagood of Medalist Capital placed a long term, fixed-rate loan with Aviva Investors North America, a life insurance lender whom Medalist represents exclusively in the Carolinas.