Kite Realty Group Trust secured an $87.2 million loan to fund the construction and development of Parkside Town Commons in Cary, NC.
The loan, financed by The Huntington National Bank, has a three-year term with an option to extend for an additional four years.
Kite Realty Group Trust has already begun construction on both phases of the Parkside project. Phase I is 82.5% leased or committed and will be anchored by Target, Harris Teeter, and Petco. Phase II is 60.3% leased or committed and will be anchored by Frank Theatres Cinebowl and Grille, Golf Galaxy, and Field & Stream.