Canyon Partners Real Estate has provided a $14.8 million preferred equity investment in a joint venture with The Widewaters Group for the development of Parkstone at Indian Land, a class A, 266-unit, garden-style residential community in Indian Land, S.C.
Widewaters will lead development of the community, which is expected to begin occupying units in late 2023, with completion in mid-2024.
The investment marks the second joint venture between Canyon and Widewaters, and Canyon's third investment in the greater Charlotte area in the last five months. Huntington National Bank provided the senior construction loan.
Indian Land is a rapidly growing suburb of the Charlotte MSA, located 15 miles south of Charlotte's central business district and five miles south of the Ballantyne submarket on the border of North Carolina. The northernmost community in Lancaster County, Indian Land has benefited from the growth of the greater Charlotte region. As Charlotte's growth traj
