CBRE Arranges $81 Million Construction Loan for Sutherland at Piper Glen in Charlotte

CBRE has arranged an $81 million construction loan for Sutherland at Piper Glen, a 299-unit multifamily development underway in Charlotte’s Piper Glen neighborhood. The financing was secured on behalf of a consortium of investors led by the developer of RK Investors and provided by Western-Southern Life Insurance Company.

The financing was arranged by Nate Sittema, Kristen Reilley and Elliott Voreis with CBRE’s Debt & Structured Finance team.

Currently under construction at 9621 Elm Lane, Sutherland at Piper Glen will feature four five-story apartment buildings built atop a single-story parking podium. The community is part of Greenway at Piper Glen, a new master-planned development by RK Investors in South Charlotte.

Upon completion, the community will offer residents a range of amenities including gated access, covered parking, a state-of-the-art fitness center, bike storage, coworking spaces, a dedicated golf simulator room, game room, swimming pool, fire pit, grilling areas, pet wash station and coffee bar. The property will also provide direct pedestrian access to the Four Mile Creek Greenway and walkable access to the Trader Joe’s-anchored Shops at Piper Glen.

“This development is a truly transformational opportunity in this high barrier to entry South Charlotte micro location,” said Sittema, Vice Chairman at CBRE. “Marrying up the right capital stack to best access the underlying demographics and long-term growth prospects of this location was paramount. The project’s connectivity to major retail amenities and the regional greenway network helped differentiate the opportunity to drive interest among a competitive and creative lender pool.”

The development offers connectivity to the Charlotte-Mecklenburg greenway system, including the Lower McAlpine and McMullen Creek Greenways and the Cross Charlotte Trail network. The location combines access to outdoor recreation with proximity to South Charlotte’s retail, dining and employment destinations.

Sutherland at Piper Glen is expected to begin leasing in fall 2027, with first units scheduled for delivery in March 2028.