Canyon Partners Provides $48M Senior Loan for NorthPointe Apartments Refinancing in Greenville

Canyon Partners Real Estate LLC announced Oct. 15 that it has provided a $48 million senior loan to a joint venture between ECI Group and Central Realty Holdings for the cash-neutral refinancing of NorthPointe Apartments, a Class-A multifamily property in Greenville, South Carolina. Walker & Dunlop Capital Markets Real Estate Finance arranged the transaction.

NorthPointe Apartments Refinancing: Deal Details

The $48 million senior loan refinances NorthPointe Apartments on a cash-neutral basis. The loan equates to approximately $167,832 per residential unit, based on the property's 286 apartments.

The borrower is a joint venture between ECI Group and Central Realty Holdings (CRH), which developed the property together. The financing marks Canyon's fifth transaction with ECI Group, following its investments in Square One, ShoreCrest Club, Channel Club and Shorecrest Club II.

Property Overview: Class-A Multifamily Near Downtown Greenville

Completed in 2021, NorthPointe Apartments comprises two adjacent multifamily buildings with 286 residential units spanning more than 248,000 square feet. The property also includes nearly 21,400 square feet of ground-floor retail space and 597 structured parking spaces.

Amenities include a resort-style pool, a 24-hour fitness center, and a community room with a full kitchen and outdoor fireplaces. Residential interiors feature stainless steel appliances, granite countertops and large walk-in closets, and many units have private balconies overlooking downtown Greenville.

The property is located about one mile north of downtown Greenville, offering walkability to grocery, dining, fitness and service retail. It also has access to downtown's employment base and to major regional transportation corridors, including I-85, which connects Greenville to Charlotte and Atlanta. The property sits along East Stone Avenue.

Executive Comments on the Canyon Partners Financing

"NorthPointe stood out to us as an opportunity to lend against a high-quality asset that has performed well against a challenging supply backdrop," said Robin Potts, Chief Investment Officer of Canyon Partners Real Estate. "At Canyon, we remain focused on situations where strong sponsorship, durable property-level fundamentals, and an attractive basis come together to create compelling downside protection. NorthPointe checks each of those boxes and reinforces our conviction in multifamily assets within growing markets."

Seth Greenberg, Chief Executive Officer at ECI Group, said: "Canyon has been a valued partner to ECI over the years, and we are pleased to work together again on the refinancing of NorthPointe. The firm's flexible approach and understanding of our business make it a natural partner as we and our local Greenville joint venture partner, CRH, continue to execute our long-term plan for the property."

Justin Nelson, Senior Managing Director of Capital Markets Real Estate Finance at Walker & Dunlop, said: "NorthPointe is a high-quality multifamily asset in one of the Southeast's most dynamic markets. The property's strong fundamentals, desirable location, and proximity to downtown Greenville made it an attractive financing opportunity. We were pleased to work alongside ECI Group, Central Realty Holdings, and Canyon Partners to structure a financing solution that supports a long-term vision for the property."

Greenville Multifamily Market Context

The refinancing comes as Greenville's apartment market shows signs of tightening after a period of heavy construction. A July 2026 market report cited vacancy near 5.8% and annual rent growth of 4.2%. The Greenville-Spartanburg construction pipeline stood at approximately 2,188 units, described as less than one year of supply at recent absorption rates. A separate third-quarter 2026 report put average Greenville apartment rent at $1,593, up 1.2% year over year.

About the Firms Involved

Canyon Partners Real Estate, founded in 1991, is the real estate direct investing arm of Canyon Partners, LLC, a global alternative asset manager with approximately $30 billion in assets under management. Over the last 15 years, Canyon has invested more than $7.7 billion of debt and equity capital across 268 transactions, capitalizing approximately $24.7 billion of real estate assets. The firm said it has capitalized $7.6 billion of total projects across the Southeast and continues to pursue multifamily investment opportunities in primary and secondary markets throughout the United States.

ECI Group, a privately owned real estate organization with more than 50 years of history, has development, construction, investment and property management groups and a portfolio of more than 7,500 units across the Southeast and Texas. Central Realty Holdings, founded in 1926, is a Greenville-based, family-owned real estate investment and development company with projects across mixed-use, multifamily, retail, hospitality, office and land development in Upstate South Carolina and the broader Southeast. Walker & Dunlop (NYSE: WD) is a commercial real estate finance and advisory services firm.

Sources

Canyon Partners Real Estate Provides $48M Senior Loan to Refinance Class-A Multifamily Property in Greenville (Canyon Partners, Oct. 15, 2026)