The Phillips Collective has closed on bridge financing for its recently opened 295-unit mixed-use multifamily project in Charlotte, North Carolina's largest city. Dwight Investment Management, a subsidiary of Dwight Capital, was responsible for providing the US$115 million refinancing.
The loan was provided for 'The Seventeen Hundred on East' project, which opened its doors in January. It comprises 295 luxury apartments and 6,500 square feet of retail space. Proceeds from the loan were used to pay off existing construction loans, fund an interest reserve, and provide cash out, according to Dwight. Josh Hoffman, Managing Director at Dwight Investment Management, was responsible for brokering the loan.
Amenities and tenant structure
The property is located at 1755 Lombardy Circle in Charlotte's Dilworth neighbourhood. The residential units are divided into eight studios, 158 one-bedroom flats, 90 two-bedroom flats, and 39 three-bedroom flats. Community amenities include a fitness centre, a rooftop pool, co-working suites, and a sky lounge.
The retail area of 'Seventeen Hundred on East' provides space for three ground-floor tenants. It currently houses a Pilates studio, a Pvolve fitness club, and the Om Spa. A grocery retailer is also planned.
Second financing in North Carolina
The Charlotte transaction is Dwight Investment Management's second financing in North Carolina in less than a year. The private lender had previously provided a US$42.5 million construction loan to Golden Hour Collective in October 2025 for the development of a 133-unit build-to-rent townhouse complex in Asheville, North Carolina, as Commercial Observer reported at the time.
Phillips Collective, a family office founded by Brian Phillips and Brittani Rotunda Phillips, did not immediately respond to a request for comment.
