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CHARLOTTE, N.C. — NorthMarq has arranged an $8.6 million bridge loan for the acquisition and renovation of Tryon House Apartments located at 508 North Tryon St. in Charlotte. The 84-unit property is located near the city’s Uptown district.
Dave Stewart and Ryan Taylor of NorthMarq arranged the financing through a national debt fund on behalf of the buyer, Elevate Capital. The seller was not disclosed.
Tryon House was built in 1927, and is close to all of Uptown’s amenities, such as the LYNX Blue Line light rail system, Charlotte’s banking headquarters and The EpiCentre and First Ward Business Center.