 |
| Ryan Clutter |
CHARLOTTE, NC – JLL Capital
Markets announced it has closed the $102 million sale and arranged $79.35
million in financing for Coliseum Centre III, V and VI, three Class A
office buildings totaling 511,344 square feet in Charlotte, North Carolina.
JLL represented the seller, America’s Capital
Partners, and procured the buyer, Charlotte-based South Street Partners.
Additionally, working on behalf of the buyer, JLL arranged the four-year,
floating-rate acquisition loan with Brookfield.
Coliseum Centre III, V and VI are located at 2550 W Tyvola
Road and 2810 and 2815 Coliseum Drive, respectively, immediately adjacent to
Billy Graham Parkway in Charlotte’s Airport submarket.
The
properties have excellent connectivity to Interstates 77, 85 and 485, the
area’s primary transportation arteries, and are a short distance from Uptown
Charlotte and the Charlotte Douglas International Airport.
The
buildings are also surrounded by some of the top hotel brands. Completed
between 1996 and 1998, the six-story buildings are 87% occupied overall and
offer a superb amenity package not commonly found in similar-sized buildings.
 |
| Chris Lingerfelt |
The
amenities include on-site dining options, three oversized fitness centers,
conference facility, three large boardrooms, 60-person training facilities with
adjacent tenant WiFi lounge and a shared collaboration area.
The JLL Capital Markets team representing the seller was
led by Senior Managing Director Ryan Clutter, Senior Director Chris
Lingerfelt and Director Zack Drozda.
JLL’s Capital Markets team representing the borrower was led
by Senior Managing Director Travis Anderson and Director Taylor
Allison.
“Coliseum Center and the surrounding Airport submarket is
poised for exceptional growth,” Lingerfelt said.
“Underlying fundamentals in
the area are flourishing as South End continues to inch closer, and affordable
well-parked office space becomes scarce.
"Coliseum
Centre will be a phenomenal investment opportunity for years to come.”
“Given the strong employment growth and corresponding
leasing demand in Charlotte, opportunities like Coliseum Centre are very
attractive to investors,” commented Clutter.
 |
| Zack Drozda |
“Our team facilitated a quiet transaction on
these three assets matching the right capital source to the right opportunity.
"The outcome is a win-win for all involved and further demonstrates the strong
investor appeal of the Charlotte market.”
“Charlotte has become one of the top markets for office investment
nationally and is poised to continue to see significant inbound capital flows,”
Clutter added.
JLL Capital Markets is a full-service global provider of capital
solutions for real estate investors and occupiers.
The
firm's in-depth local market and global investor knowledge delivers the
best-in-class solutions for clients — whether investment advisory, debt
placement, equity placement or a recapitalization.
The
firm has more than 3,700 Capital Markets specialists worldwide with offices in
nearly 50 countries.
 |
| Travis Anderson |
For more news, videos and research resources on JLL, please
visit the firm’s U.S. media center Web page: U.S. newsroom.
About America’s Capital Partners:
America’s Capital Partners (ACP) is a fully integrated, private
commercial real estate investment firm headquartered in Coral Gables, Florida.
Its
executive team has a market driven investment approach and a reputation for
unearthing unique opportunities to ensure consistent diversification of assets
across high growth markets.
About South Street Partners:
Founded in 2009, South Street Partners (“SSP”) is a private equity
real estate investment firm headquartered in Charlotte, NC and Charleston, SC
(additional office in Orange County, CA) that has deployed $640 million of
capital across commercial and residential assets and has over $1 billion of
assets under management.
 |
| Taylor Allison |
For more information, please visit: southstreetpartners.com.
About JLL:
JLL (NYSE: JLL) is a leading professional services firm that
specializes in real estate and investment management.
JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities.
JLL is a Fortune 500 company with annual revenue of $18.0 billion, operations in over 80 countries and a global workforce of more than 93,000 as of December 31, 2019.
JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated.
JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities.
JLL is a Fortune 500 company with annual revenue of $18.0 billion, operations in over 80 countries and a global workforce of more than 93,000 as of December 31, 2019.
JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated.
CONTACT:
Kristen
Murphy
Senior Manager, Public Relations
JLL Capital Markets
One Post Office Square, Suite 3500
Boston, MA 02109
T +1 617 848 1572
M +1 617 543 4873
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