Canyon Provides $16.9M Equity Investment for New Multifamily Construction in Raleigh

RALEIGH, N.C. — Canyon Partners Real Estate LLC has provided a $16.9 million preferred equity investment to Kane Realty Corp. for the development of Vine North Hills, a 326-unit apartment community in Raleigh’s North Hills submarket. Located on four acres along St. Albans Drive, Vine North Hills is the first phase of the 33-acre, multi-phased North Hills East Expansion. The community will feature a mix of studio to three-bedroom apartment units with quartz countertops, stainless steel appliances, glass walk-in showers and private balconies. Community amenities will include a clubhouse with hospitality kitchen, lounge and game rooms, fitness center, saltwater pool, grills, fire pits, dog washing facility, a bike center and storage units. A construction timeline was not disclosed.