REBusinessOnline

Crescent Communities, Nuveen Acquire 546,878 SF Office Tower in Uptown Charlotte

CHARLOTTE, N.C. — A joint venture between Crescent Communities and Nuveen Real Estate has acquired 101 North Tryon, a 20-story office building in Uptown Charlotte that was renovated in 2018. HFF arranged the sale of the 546,878-square-foot office building, which was 81 percent leased at the time of sale to tenants including Bank of America, Robinson Bradshaw & Hinson PA, Spaces, Sunlight Financial and Northeastern University. The property is situated near more than 100 restaurants and …

Berkadia Negotiates $24.4M Sale of Apartment Complex in Burlington, North Carolina

BURLINGTON, N.C. — Berkadia has negotiated the $24.4 million sale of Hawthorne at Forestdale, a 234-unit apartment complex in Burlington. The community offers studio, one-, two- and three-bedroom floor plans. Communal amenities include a saltwater swimming pool, sundeck, playground, cyber café, community pond, 24-hour fitness center and a dog park. Mark Boyce and Blake Coffey of Berkadia represented the undisclosed, Alabama-based seller in the transaction. Berkadia provided the undisclosed …

BB&T-SunTrust Pick Charlotte’s Hearst Tower as Corporate Headquarters Location

CHARLOTTE, N.C. — The 965,000-square-foot Hearst Tower in Charlotte, which is owned by Cousins Properties, will be the new corporate headquarters for BB&T Corp. and SunTrust Banks Inc. once the merger between the two banks is complete. BB&T-SunTrust confirmed in a press release that the combined bank is expected to begin occupying 651,000 square feet of office space in phases from August 2019 to June 2021. Up to 2,000 employees of the proposed new company will be housed in the …

Equator Capital to Convert Vacant Shopping Mall to Office Space in Raleigh-Durham

MORRISVILLE, N.C. — Equator Capital Management will redevelop the vacant Morrisville Outlet Mall in Morrisville into a 245,000-square-foot office campus. Knighthead Funding LLC provided the developer with a $34 million construction loan that features a 24-month non-recourse period. Gensler designed the office campus to include extensive use of glass walls, some as high as 30 feet. Common area upgrades will include a new surfaced parking lot, landscaped courtyards with outdoor seating, turf …

HFF Arranges $57.3M Sale of Multifamily Community in Charlotte

CHARLOTTE, N.C. — HFF has arranged the $57.3 million sale of Solis Berewick, a 275-unit multifamily community completed in 2017 in Charlotte. The property is located at 9550 Gannon Drive next to the grocery-anchored Berewick Town Center development, part of the 1,200-acre Berewick master-planned community in southwest Charlotte. Solis Berewick offers one-, two- and three-bedroom floor plans averaging 1,016 square feet per unit. Communal amenities include a saltwater swimming pool, outdoor …

Carroll Organization Acquires Three-Property Apartment Portfolio in Southeast

ATLANTA — Carroll Organization has acquired a three-property multifamily portfolio located throughout the Southeast. The three properties include the 268-unit Hawthorne at Mooresville in Mooresville, N.C.; the 312-9unit Hawthorne at Wildwood in Marietta, Ga.; and the 323-unit Hawthorne South Oaks in downtown Nashville, Tenn. According to Atlanta-based Carroll Organization, all three properties will be rebranded under the ARIUM name. Additional terms of the sale were not

HFF Arranges $10.2M Sale of Medical Office Building in Metro Charlotte

DAVIDSON, N.C. — HFF has arranged the $10.2 million sale of Davidson Medical Office Building, a healthcare building located at 705 Griffith St. in Davidson, about 20 miles north of downtown Charlotte. Situated on 1.8 acres, the property was delivered in 2001 and was 95 percent leased at the time of sale to medical tenants including Atrium Health. Zack Drozda, Evan Kovac, Ben Appel and Andrew Milne of HFF represented the seller, Canvass Capital, in the transaction. The team also procured the …

Bellwether Arranges $115M in Acquisition Financing for 12 Affordable Housing Communities in the Southeast

CLEVELAND — Bellwether Enterprise has arranged a total of $115 million in acquisition financing for 12 affordable housing communities in South Carolina, North Carolina, Georgia, Florida and Virginia. The borrower, Atlantic Housing Foundation Inc., used the financing to purchase the 1,776-unit portfolio. The South Carolina communities include Shemwood Crossing Apartments in Greenville, Boulder Creek Apartments in Greenville, Crescent Hill Apartments in Spartanburg and Spring Grove in …

Honeywell Leases Nine Floors at Charlotte’s Legacy Union Project for Corporate Relocation

CHARLOTTE, N.C. — Honeywell has signed a long-term lease with Lincoln Harris to occupy on a 23-story office tower in downtown Charlotte. Honeywell will occupy 280,000 square feet of space spanning nine floors. The company plans to house 700 employees there by the end of 2024. The building is located at 700 S. Mint St., directly across the street from Bank of America Stadium and will offer ground-floor retail, approximately 800 parking spaces and a rooftop terrace. In December 2018, Honeywell …

Best Deals for Investors, Lenders Lie Outside of Urban Cores, Say InterFace Carolinas Panelists

CHARLOTTE, N.C. — The urban districts in the Carolinas have a lot going for them: Honeywell is leasing nine floors within downtown Charlotte’s Legacy Union project; The Fallon Co. is building a 20-story office tower in downtown Raleigh; and The Beach Co. and Centennial American Properties are separately building mixed-use developments in downtown Greenville. While these projects only scratch the surface of the new developments in the Carolinas’ urban markets — especially for new …

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