Crestlight Capital Acquires SouthPark Towers Office Campus in Charlotte

CHARLOTTE, N.C. — Private equity investment firm Crestlight Capital has purchased SouthPark Towers, a two-building office campus in Charlotte’s SouthPark submarket totaling 534,263 square feet. The sales price and seller were not disclosed. The transaction represents Crestlight’s first office investment in Charlotte and fourth investment over the past 16 months, totaling over $500 million of enterprise value. The firm, which has regional headquarters in Detroit and New York City, partnered with an unnamed institutional investor for the acquisition. Crestlight plans on executing a significant renovation of both buildings, including cosmetic improvements, new building amenities and an overhaul of outdoor space. Crestlight has tapped Joe Franco, Kris Westmoreland and Stephanie Spivey to handle leasing at SouthPark Towers.