Beacon Partners Raises $28 Million for RailYard Development

11/15/17

By Emily Brice, NC BIZ News

RailYard Investment LLC, an operation of Charlotte-based real estate company Beacon Partners, has raised almost $28 million in a private equity offering, according to a filing with the Securities and Exhange Commission.

The company filed the Form D on Nov. 15 and declined to disclose what it intended to do with the funds. The total worth of shares sold was $27,975,000. It has $3,525,000 worth remaining to be sld.

The money from this investment will be used to develop a new project called The RailYard in the South End of Charlotte. This project will include offices, shops and apartments.

The two buildings will be eight stories tall each, totally 320,000 square feet of mostly office space. Included in the development will be 100 unique studio apartments.

Beacon broke ground on the development on Tuesday. The Charlotte City Council approved the development in July.

Mike Harrell, senior manager at Beacon Partners for the RailYard development, signed the Form D. He has been at Beacon Partners since 1996 and currently sits on the Charlotte Regional Partnership Business Development Committee.

Beacon Partners is one of the largest privately held owners of office and industrial buildings in the Carolinas with over $1.2 billion invested in real estate throughout North Carolina and South Carolina.

Companies relying on a Reg D exemption do not have to register their offering of securities with the SEC, but they must file what’s known as a Form D electronically with the SEC after they first sell their securities.

The filing can be found here.

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