Purchase Your Blue Vault Research Subscription
Jan 21 2016 | Article by: The DI Wire
KBS Real Estate Investment Trust III Inc., a publicly registered non-traded REIT, purchased the Carillon office tower in uptown Charlotte, North Carolina from Hines for $147 million plus closing costs.
In 2007, Hines, on behalf of its U.S. Core Office Fund LP, purchased the property for $140 million.
The 24-story, 476,000-square-foot class A office tower is located at 227 West Trade Street on approximately 1.8 acres of land. Carillon was constructed in 1991 and is 92 percent leased to 46 tenants with a weighted-average remaining lease term of five years.
The REIT funded the purchase of Carillon with proceeds from a mortgage loan and proceeds from its now-terminated primary initial public offering.
Go BackRecent News
- Cantor Fitzgerald and Silverstein Properties Announce Joint Venture Partnership with Collins Capital Partners and Kaufman Jacobs and Closing of Construction Financing for Multifamily Opportunity Zone Development in Chesterfield County, VA
- Cultivating Wealth via Specialty Farmland
- Shopoff Sells Del Taco-Anchored Retail Center in Fullerton
- Urban Catalyst Floats Housing Instead Of Offices At Icon/Echo
- ExchangeRight’s Essential Income REIT Acquires $84 Million Portfolio
BlueVault saves a lot of time and effort in obtaining good numbers for analysis and provides good insights to compare against my own.
