Homewood Banks
Back to Experience


Raleigh, NC


Due Diligence and Development Oversight

    Our Role

    RPL provided due diligence and development oversight services on behalf of an institutional equity partner.

    Unique Approach

    • Challenging jurisdictional approval processes.
    • Severely sloped site required terracing and phasing of buildings.
    • Limited qualified subcontractors and suppliers.


    • Completed slightly later than scheduled due to materials and labor availability.
    • Great product that leased well.
    • Sold to next owner for a profit.

    Scope of Work

    Development of garden style market-rate apartments throughout 15 buildings with indoor and outdoor amenities.

    Project Summary

    • Client: One of the largest institutional private equity investment firms
    • Location: Raleigh, NC
    • Size: 221 units, 4 floors, 198,219 RSF
    • Timeline: 2017 to 2020
    • Services: Due Diligence and Development Oversight
    • Cost: $40 Million
    • Architect: Rule Joy Trammell + Rubio
    • Contractor: VCC Construction
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