Homewood Banks
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Homewood Banks

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