Northmarq secures $38M construction loan for Evolve Crossing apartments
BURLINGTON, N.C. — Northmarq’s West Palm Beach Debt + Equity team led by Chris Hammel arranged the $38 million new construction financing for Evolve Crossing, a 210-unit, Class A multifamily development well-located in Burlington, North Carolina.
Northmarq arranged the financing on behalf of the borrower, Evolve Companies, through a relationship with CrossHarbor Capital Partners.
“Northmarq was pleased to work with CrossHarbor to structure a construction loan that provided enhanced equity returns at the borrower’s desired proceeds. Evolve Crossing will be an exciting addition to Burlington and the greater I-40/Triad region. We appreciate the opportunity and continued relationship with the Evolve team,” said Hammel.
Planned for completion in 2028, Evolve Crossing will be a Class A, garden-style apartment community featuring one-, two- and three‑bedroom residences with high-end fixtures and finishes. Community amenities will include a resort-style pool with lounge, outdoor kitchens, ample parking, co-working space, full gym with a yoga studio, dog park with pet spa station, and welcoming common areas.
Conveniently located near Interstate 40, residents will enjoy easy access to upscale shopping and major employment centers including Labcorp’s headquarters, Elon University, and multiple regional logistics and distribution hubs.
Northmarq recently arranged construction financing for Evolve Companies’ Evolve Wynwood project in Miami.
Meet our team
Northmarq is one of the largest privately held commercial real estate firms in the United States, combining a nationwide presence with deep local expertise. With more than 50 offices across the country, we provide a full suite of debt, equity, investment sales, loan servicing and fund management solutions for a comprehensive range of property types. Our unique structure allows us to connect clients with the best opportunities, yet be nimble enough to ensure access to every expert across our company. The firm manages a loan servicing portfolio of over $80 billion and has completed $91.3 billion in transactions over the past fours years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide.
