West Village, Durham, North Carolina
Located near the Duke University campus in Durham, North Carolina, West Village is a mixed-use project consisting of extensive Class-A loft-style apartment homes, retail and commercial space.
Federal Capital Partners (“FCP”) purchased Phase I of the project in December of 2011, and purchased a controlling interest in Phase II of the project in August of 2012. Linowes and Blocher LLP counseled FCP on all aspects of the acquisition, including negotiating a commercial note purchase, restructuring capital investments, negotiated agreements outstanding creditors of the prior owners and with the existing owners of and lenders to the project entities and drafted joint venture and mezzanine loan financing documents to financially reposition West Village as a successful, thriving mixed-use project. “West Village is an incredibly exciting and successful project with a history of very high occupancy,” said FCP Managing Partner, Alex Marshall. Mr. Marshall continued, “These urban lofts are attracting young professionals and graduate students interested in living in a walkable, amenity-rich downtown with immediate access to the Duke campus and medical center and Research Triangle.”