CHARLOTTE, N.C. — Arch Cos. and Lakestar Properties have acquired Cambridge, an office property located in Charlotte, for $63 million. The name of the seller was not released.
Constructed in 1990 on a 50-acre parcel within University Research Park, the 350,000-square-foot campus offer tech-centric office space for multiple tenants. The property features floor-to-ceiling windows, skylights, an open-air atrium, outdoor meeting spaces, on-site parking and a fitness center. Additionally, the building’s infrastructure includes a redundant power supply, high-floor loads and fiberoptic lines.
Arch Cos. and Lakestar Properties funded the acquisition using $50.4 million in fixed-rate financing. Abe Katz and Mark Silbersher of Walker & Dunlop arranged the first mortgage loan through Citigroup and a mezzanine loan through Morrison Street Capital.