Residential Real Estate

270 unit multifamily property coming to Southern Pines; Trinity Street Capital Partners announces the origination of a $64MM non-recourse multifamily construction loan

By Staff Report, posted 3 months ago

Trinity Street Capital Partners (TSCP) a full service real estate investment bank, announces the origination of a $64MM construction loan for the development of a 270 unit, class A, market rate, multifamily property located in Southern Pines, NC. The construction loan had a 3-year term, achieved an 85% loan-to-cost and was non-recourse. TSCP continues to expand its non-recourse construction lending programs, throughout the United States, as many lenders curb their construction programs as a result of non-performing loans or over leveraged projects.

The Southern Pines project will offer (80) one-bedroom units, (166) two-bedrooms, (24) three-bedroom, garden-style units in three (3), three-story, residential buildings on a 14 acres. Amenities will be located on the first floor and will include administrative / leasing offices, club room lounge with full-service kitchen, fitness center, yoga room, business center and game room. The community will also feature a swimming pool with surrounding sundeck, poolside cabanas and grilling areas, indoor / outdoor sitting area with fireplace, playground, dog park and nature path.

Southern Pines is an appealing town nestled in the heart of North Carolina, renowned for its picturesque landscapes, rich history, and thriving business community with a focus on tourism, healthcare, education and retirement. The city offers a unique blend of Southern hospitality and modern amenities and is a popular destination for golf enthusiasts and boasts numerous high-end golf courses, luxury accommodations and charming bed & breakfasts. The town's historic downtown area is home to a variety of boutique shops, art galleries, and restaurants.

Trinity Street Capital Partners focuses on non-recourse, high leverage senior & subordinate non-recourse commercial mortgages, construction loans and real estate private equity, with investments starting at $10MM on income producing retail, office, industrial, multifamily, manufactured housing communities, self-storage and hospitality properties, located throughout the fifty states.

Ico insights

INSIGHTS

SPONSORS' CONTENT

In The Current Issue

Meet Shannon Bell: Cape Fear Botanical Garden's new director of philanthropy is ready to hit the ground running in the new year

Shannon BellAs a non-profit organization dedicated to “transforming people’s relationship with plants and the natural world,” the Cape Fear Botanical Garden has a very unique mission to educate and provide programs and events to connect the people of


CEO seeks new start: Cool Spring Downtown District CEO Bianca Shoneman announces resignation

During Shoneman’s tenure, the Cool Spring Downtown District was able to expand their event offerings including their monthly Fourth Friday and Night Circus NYE Spectacular events and advocate for and launch Fayetteville’s social district downtow


Sky high economic output: Seven local airports report a combined economic output of $1B+ according to the 2025 State of Aviation report

Out of a reported $88 billion in economic output across the state, seven airports within the Greater Fayetteville Business Journal’s coverage area contributed a combined $1.4 billion. Photo by Gary Lopater via unsplash.com.  North Carolina’