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| Ballantyne Corporate Park, Charlotte, NC |
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| Travis Anderson |
CHARLOTTE, NC –– Holliday
Fenoglio Fowler, L.P. (HFF) announced it has arranged $350 million in combined
financing on behalf of Northwood Investors for a portfolio of 13 office
properties, two retail buildings and two hotels located within Ballantyne Corporate Park in Charlotte,
North Carolina.
In total, Northwood
acquired a vast majority of Ballantyne Corporate Park, which includes 36 office
buildings (4.2 million square feet), four hotels (588 rooms), two restaurants
(13,000 square feet) and land entitled for additional office, hotel and
multifamily developments.
Only a 20 minute drive
from Charlotte’s central business district and proximate to many affluent residential
neighborhoods, Ballantyne Corporate Park was developed over a 20-year period
and is situated along Interstate 485 in South Charlotte.
HFF worked on behalf of
Northwood to secure three separate acquisition loans, which include a
fixed-rate loan with two life companies on the office and retail component, and
two bank loans for The Ballantyne, a Luxury Collection Hotel, Charlotte and
Aloft Charlotte Ballantyne. Also at
closing, Northwood assumed existing debt on the other remaining assets in the
park.
The commercial component
of the financing was comprised of 13 office properties, which total 1.8 million
square feet and are 96 percent leased to tenants including MetLife, Wells
Fargo, Premier, TIAA, Liberty Mutual and Novant Health, while the two retail
properties are occupied by Stone Mountain Grill and Vine Restaurant.
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| Cory Fowler |
The hotel portion of the financing includes
The Ballantyne, a Luxury Collection Hotel, Charlotte, a 244-room luxury resort
featuring 30,000 square feet of meeting and event space, Ballantyne Spa
(Charlotte’s only Forbes Four-Star spa), indoor and outdoor pools, a fitness
center, tennis courts, the Forbes Four-Star rated Gallery Restaurant and access
to a PGA golf course with a renowned golf school.
In addition, HFF arranged financing for the
136-room Aloft Charlotte Ballantyne which offers guests the W XYZ bar, an
indoor pool, fitness center, a food café and access to the nearby golf course
at The Ballantyne.
The HFF debt placement
team representing the borrower was led by senior managing director Travis Anderson, director Brent Bowman and director Cory Fowler.
"Acquiring such a
diverse portfolio with the breadth of Ballantyne Corporate Park is a
generational opportunity, unprecedented in the state of North Carolina and one
of the largest real estate trades ever in the Southeast,” said Anderson.
“By having the ability to
control the second largest sub-market outside of Charlotte's CBD coupled with
additional development potential, Northwood is extremely well positioned to
improve upon the legacy of Ballantyne while delivering exceptional returns for
its investors."
For a complete copy of the company’s news release,
please contact:
Kristen M. Murphy
Director, Public Relations
HFF | One Post Office
Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 |
Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com
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