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Commercial Lending

AFC Reality Capital Unit To Advise Development In the Tar Heel State

AFC Hotel Finance Group, a subsidiary of AFC Realty Capital Inc., will act as the exclusive advisor for the financing of a $170 million mixed-use development project in Raleigh, N.C.

Project developer The Soleil Group said it has appointed AFC to advise on the development of the 620,000-square-foot Soleil Center, which is being financed by a 80% senior construction loan. Overall project construction financing will total $136 million, the company said.

It will feature the second tallest tower in the Carolinas, AFC president Peter M. Berk said. "The Soleil Group is a top-tier developer responsible for some of the most prestigious projects in the Southeast," Mr. Berk said.

Other Soleil Center features include a Westin Hotel and luxury condominiums and hotel amenities such as an upscale spa, fitness center, restaurant and a 30,000-square-foot conference and banquet facility. Residential construction will feature 49 luxury condominiums situated atop the hotel with views of the Crabtree Valley area.

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