Madison Capital Group has closed $34.3 million in financing for the development of Madison Aquiline, a luxury garden-style multifamily community in Raleigh, Durham and Chapel Hill’s Research Triangle. Centennial Bank is providing the financing for the Apex project.

Madison Capital Group’s affiliate Madison Communities, plans to build 218 units with granite countertops, an integrated clubhouse with a fitness center and a pool and pool deck complete with grilling stations and a fire pit. Additional features will include a café island with a wet bar, a cyber lounge, flexible workspaces and a coffee bar.

The Research Triangle continues to see significant population and economic growth. Wake County, now the most populous county in North Carolina, has seen employment levels surpass pre-pandemic numbers.

The Raleigh-Durham area remains a hotspot for growth. Apex, in particular, has experienced unprecedented growth, with a 90% increase in population since 2010, adding approximately 33,600 new residents during that time.