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Turnbridge Equities has received a $51 million construction loan for Mailman Post, a single-family, build-to-rent development in Raleigh, N.C. The non-recourse note was originated through a regional bank in a transaction facilitated by JLL.

This project marks the expansion of Turnbridge’s Research Triangle portfolio into the build-to-rent sector. The 302-unit community will cover a 74-acre site located 15 minutes from downtown Raleigh. Upon completion it will offer two- through five-bedroom homes averaging 1,650 square feet.