Downtown Raleigh’s luxury high-rise Maeve has locked in a fresh $105 million refinancing, with Walker & Dunlop arranging the loan for the 20-story, 297-unit tower that opened last year. The new capital backs one of the Warehouse District’s biggest recent arrivals as the property continues its first full run at leasing up apartments and activating its ground-floor retail. It also keeps Opportunity Zone projects firmly in the mix for downtown’s development story.
A Business Wire announcement carried by the Eagle‑Tribune reported that Walker & Dunlop arranged $105 million in proceeds to refinance Maeve. The Bethesda, Md., release characterized the deal as refinancing proceeds for the newly delivered community. Trade coverage and developer materials identify Capital Square as the project sponsor behind Maeve’s development.
About Maeve
Maeve stands at 319 West Lenoir Street as a mixed-use, 20-story tower with 297 apartment homes stacked over roughly 10,000 square feet of ground-floor retail, plus a hefty slate of resident amenities. Industry coverage from CommercialCafe and developer materials note that the building opened in spring 2025, with construction financed in part through Capital Square’s Opportunity Zone vehicles.
Why the Opportunity Zone Tag Matters
The tower sits inside a federally designated Opportunity Zone, a tax incentive program created by the Tax Cuts and Jobs Act of 2017 that can allow investors to defer or trim capital-gains taxes when they invest through qualified funds. The IRS explains that these incentives, which include temporary deferral of certain gains and potential exclusion of appreciation after a 10-year hold, are meant to encourage investment in designated low-income census tracts. IRS guidance lays out the program’s rules and timing requirements.
What It Means For Raleigh’s Downtown Market
The refinancing for Maeve arrives as downtown Raleigh works through a wave of new multifamily and retail deliveries that are reshaping what renters and retailers expect from the core. Market materials from the Downtown Raleigh Alliance flag Maeve as one of the major recent projects that have shifted downtown inventory and competitive dynamics. Reporting from the Downtown Raleigh Alliance notes that buildings of this size can influence both rental competition and the level of activity at the street-facing retail level.
Walker & Dunlop, for its part, has been active in lining up large refinancings and construction loans for newly completed towers, a pattern reflected in the firm’s recent news announcements. For Maeve, the latest transaction shifts the property off its initial construction capital stack and onto a new financing platform as the building moves through its first full cycle of leasing and day-to-day operations.
