RK Investors and its partners have obtained an $81 million construction loan for Sutherland at Piper Glen, a 299-unit apartment community now under construction in south Charlotte. The project is part of the larger Greenway at Piper Glen development. Western-Southern Life Insurance Company provided the financing, which was arranged by CBRE’s debt and structured finance team.
Key takeaways
The loan will support construction of a new multifamily community in Charlotte’s Piper Glen neighborhood. The five-story buildings, extensive resident amenities and phased opening schedule are central details of the project.
- Loan: $81 million from Western-Southern Life Insurance Company
- Project: 299 rental units at 9621 Elm Lane
- Leasing: Expected to begin in fall 2027
- First deliveries: Scheduled for March 2028
A 299-unit community in Piper Glen
Sutherland at Piper Glen is being developed at 9621 Elm Lane as part of Greenway at Piper Glen, a master-planned project by RK Investors in south Charlotte. The apartment community will comprise four five-story buildings constructed above a single-story parking podium.
The development’s planned amenities include gated access, covered parking, a fitness center, bike storage and coworking areas. Residents are also expected to have access to a golf simulator room, game room, swimming pool, fire pit, grilling spaces, pet wash station and coffee bar.
Financing and development timeline
Western-Southern Life Insurance Company supplied the construction loan. CBRE arranged the financing through its Debt & Structured Finance team, including Nate Sittema, Kristen Reilley and Elliott Voreis.
The project is underway, with leasing projected to start in fall 2027. The first apartments are scheduled for delivery in March 2028, though the information provided does not specify whether that date marks the opening of all buildings or an initial phase.