RXR, in partnership with the North Carolina Investment Authority, has closed its structured equity investment in Twelve03, a 329-unit residential development in Charlotte, N.C. Twelve03 represents the first phase of Centre South, a 16.7-acre mixed-use development being developed by The Fallon Co.
The investment was made through the RXR Cardinal Venture, a $500 million partnership between RXR and NCIA, which is focused on providing flexible capital solutions across high-quality real estate opportunities. The Twelve03 residential development will offer a mix of 80 percent market-rate units and 20 percent affordable units in one of the country’s fastest-growing markets.
Centre South is envisioned as a transformative mixed-use development that will include additional residential buildings, office space, hospitality, retail and for-sale townhomes. Located at the intersection of Charlotte’s South End and Dilworth neighborhoods, the project is positioned to create a dynam
