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CBRE Arranges $42.2M Acquisition Loan for New Apartment Community in Triangle

The Reserve at Park Place is located at 4531 Langdon Drive in Morrisville, N.C.

The Reserve at Park Place is located at 4531 Langdon Drive in Morrisville, N.C.

MORRISVILLE, N.C. — CBRE has arranged a $42.2 million Fannie Mae loan for the acquisition of The Reserve at Park Place, a 312-unit apartment community located at 4531 Langdon Drive in Morrisville. Steve Heffner, Nate Sittema and Kristen Reilley of CBRE arranged the loan on behalf of the buyer, Centennial Holding Co. Watson Bryant, Jordan McCarley and Marc Robinson of Cushman & Wakefield arranged the sale on behalf of the seller, Park Place Members LLC. Constructed in 2017, the property features a saltwater pool, entertainment pavilion, car wash facility, dog park and spa, billiards table and a fitness center.

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