HUNTSVILLE, ALA. — Benson Capital Partners, an investment firm founded by New Orleans Saints owner and New Orleans Pelicans governor Gayle Benson, has invested in MidCity District, a $2.2 billion mixed-use development in Huntsville. The New Orleans-based company has provided a $5.7 million equity investment via its real estate fund, Benson Capital Real Estate I LP, for MidCity Placemakers Retail II, a retail component within MidCity spanning 82,669 square feet. Additionally, Randy Wolfe of Northmarq arranged a $13.8 million loan for MidCity Placemakers Retail II.
RCP Cos. is the principal owner of MidCity District, which will ultimately comprise 1,865 residential units, 925 hotel rooms, shops, restaurants, entertainment retail and Class A offices, along with outdoor gathering spaces, including the Orion Amphitheater.
“We are excited to further RCP’s vision for MidCity, redefining community spaces,” says Keith Schneider, managing director for Benson Capital’s real estate fund. “MidCity District represents a pioneering vision that aligns with our commitment to investing in transformative projects.”