Northmarq’s Debt + Equity team arranges $55M refinancing of 403 West apartments in Raleigh, NC

RALEIGH, N.C. — Northmarq’s Southeast Debt + Equity team led by Faron Thompson and Grant Harris successfully arranged the $55 million refinance of 403 West, a 438-unit garden apartment community located at 403 Wolf Creek Circle in Raleigh, North Carolina.

Northmarq arranged the bridge loan financing on behalf of the borrower, Blackfin Real Estate Investors LLC, through a relationship with Truist Bank. The transaction was structured on a three-year term.

“Lenders responded quickly to this opportunity because of the property’s institutional ownership and the flawless execution of the business plan to date,” Thompson said. “That combination created significant confidence in the asset’s performance and allowed us to generate a highly competitive financing outcome.”

Built in 2002, 403 West features spacious one-, two-, three- and four-bedroom floor plans. Units include renovated unfurnished homes, white shaker cabinets, luxury plank flooring, white polished quartz counters, stainless steel appliance package, oversized patio, upgraded designer finishes and a laundry room with a washer and dryer included.

Community amenities include an elevated resident lounge, luxury café station, gas grill pavilion, 24-hour fully-equipped fitness center, bike storage, bark park with shade pavilion, pickleball court, sparkling resort-style pool and playground.

Situated just off Hillsborough Street between Interstates 40 and 440, the 403 West community offers a comfortable and convenient home base for commuters. The neighborhood includes diverse dining options, shopping at Crossroads Plaza, nearby access to Lake Johnson Park and the North Carolina Museum of Art, and more. It is roughly seven miles from downtown Raleigh.