Middleburg Communities announced it has closed on a co-sponsored development opportunity with KDM Development. The project, West CLT, will be a 280-unit luxury class A multifamily community located on Charlotte, N.C.
Middleburg and KDM Development secured construction financing for the project from Trustmark Bank, with CIBC as a participant, and equity investment from Phoenix Capital Partners. This capital injection will transform 15.11 acres at 3309 West Blvd. into a luxury amenity-rich multifamily community across five buildings, with construction set to begin in September 2024.
“Our indirect investment platform allows us to leverage our decades of experience and trusted partnerships in co-GP opportunities,” said Ross Macdonald, principal of investments at Middleburg Communities. “West Charlotte’s strong fundamentals and growth drivers, combined with KDM Development's stability as a sponsor, make West CLT an attractive long-term investment. Our indirect inves
