RXR, in partnership with the North Carolina Investment Authority, has closed a structured equity investment in Twelve03, a 329-unit residential development in Charlotte. The project marks the first phase of Centre South, a 16.7-acre mixed-use development led by The Fallon Company, and will deliver a mix of 80% market-rate and 20% affordable housing in one of the nation’s fastest-growing markets.
The investment was made through the RXR Cardinal Venture, a $500 million partnership focused on providing flexible capital solutions across high-quality real estate opportunities.
“Twelve03 reflects RXR’s ability to deploy capital through our integrated platform to support high-quality developments in markets with strong long-term fundamentals,” said RXR Executive Vice President Russ Young. “Through our partnership with NCIA, we are able to provide flexible capital solutions that advance transformative projects like Centre South while expanding access to much-needed housing in growing markets such as Charlotte.”
