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| Rotunda Building, SouthPark Submarket, Charlotte, NC |
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| Ryan Clutter |
CHARLOTTE, NC – Holliday Fenoglio Fowler, L.P. (“HFF”)
announced it has closed the sale of and arranged $42.4 million in acquisition
and improvement financing for the Rotunda
Building, a 230,790-square-foot, premier, Class A, multi-tenant office
building in the prestigious SouthPark submarket of Charlotte, North Carolina.
HFF marketed the property
on behalf of the seller, a global asset manager. Equus Capital Partners, Ltd. purchased the
building. Additionally, HFF worked on
behalf of the new owner to place the floating-rate acquisition loan with Bank
of America Merrill Lynch.
The Rotunda Building
represents one of Charlotte’s trophy, iconic office buildings. Completed in 1988, the four-story building
features a two-floor parking deck and surface parking with a total of 761
dedicated parking spaces; lobby consisting of a two-story porte cochère with
Italian marble; conference room; Village Tavern, a full-service restaurant; and
a water fountain that spans the entire rear side of the building.
The 91-percent-occupied property is home to a
variety of tenants, including Jones Lang LaSalle, Jeffries, First Bank, Capital
South, Development Management and Michelin.
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| Scot Humphrey |
The building is in the heart of the SouthPark submarket, a mixed-use, urban environment with a live-work-play atmosphere five miles south of Charlotte’s Uptown area.
The HFF investment sales
team representing the seller was led by senior managing director Ryan Clutter, director Scot Humphrey and associate director Chris Lingerfelt.
HFF’s debt placement team
representing the buyer was led by director Brent
Bowman and senior managing director Travis
Anderson.
”The Rotunda Building is a trophy asset
located in Charlotte’s prestigious SouthPark submarket,” Clutter said. “Iconic assets of this nature continue to be
sought after from investors seeking an attractive mix of stability and modest
upside.
“We believe more core and
core-plus office assets like Rotunda will come to market in Charlotte and the
Carolinas over the next 36 months as investor attention to these opportunities
continues to be strong. The draw of
institutional capital to the Carolinas region is at an all-time high and we see
this continuing for the foreseeable future.”
“The high-quality nature
of Rotunda, a diversified tenant roster and its location within the booming
SouthPark submarket attracted substantial lender interest from both life
insurance companies and banks,” Bowman added.
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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