PNC Provides Permanent Financing for Flats at Mallard Creek

by Katie Sloan

Charlotte, N.C. — The Flats at Mallard Creek features 386 beds.

Charlotte, N.C.
— PNC Real Estate, a member of The PNC Financial Services Group, Inc., has provided $14.2 million in permanent financing to Vestcor to refinance the Flats at Mallard Creek Apartments, a 131-unit student housing community in Charlotte. The Flats at Mallard Creek features 386 beds, a pool and a fitness center, and is 100 percent leased for the 2011-2012 school year. The 10-year fixed rate Fannie Mae loan was used to refinance an existing construction loan.

— John Nelson

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