BGL Real Estate Advisors Completes Financing for The Orchards Apartment Complex in North Carolina

Brown Gibbons Lang & Company (BGL), a leading independent investment bank and financial advisory firm, is pleased to announce the financial closing of the new 166-unit apartment community development in Hendersonville, North Carolina. Peachtree Group provided development financing. BGL's Real Estate Advisors team served as the exclusive financial advisor to Orchards Properties LLC in this transaction.

The site will feature seven, three-story Class A apartment buildings across ten acres. The new development will provide residents with convenient commuting options across Asheville, with proximity to U.S. Hwy 64 and I-26, along with easy access to recreational amenities, including numerous parks, hiking trails, and the nearby Blue Ridge Mountains. Hendersonville, along with Asheville, has seen tremendous population growth over the last few years, highlighted by several new developments from Fortune 500 companies, including Amazon, D.R. Horton, and others, which have created a major need for new housing supply in the area. Given the unprecedented population growth, the nearby Asheville Regional Airport has recently commenced a $400 million terminal expansion project, which serves as an additional tailwind for the new development.

"BGL's exceptional industry expertise, along with their comprehensive and efficient process, allowed us to move forward with a long-term, national capital partner in an expedited fashion," said Luis Graef, President and Owner of Orchards Properties. "We value the opportunity to work with an experienced commercial real estate lender as we continue to develop and operate residential communities in the greater Asheville area."

Orchards Properties is a developer and operator of residential projects across the Southeastern United States, and specifically in Asheville, North Carolina, where Orchards has developed upscale residential projects over the past 20 years.

BGL's Real Estate Advisors Group offers comprehensive real estate investment banking services tailored to the middle market. It provides client-focused solutions with an emphasis on real estate advisory, debt, preferred and private equity placement, financial restructuring, recapitalizations, sale-leasebacks, structured finance, and asset acquisitions and dispositions across all asset classes. The team assists real estate owners and developers looking to form alliances and joint ventures with single-source capital providers to gain local and institutional access for all capital needs.