Arranges $18.8 million in acquisition financing for Colonial Plaza in Charlotte, North Carolina
Colonial Plaza
NEW YORK METRO (October 7, 2014) – Keith Braddish, managing director of NorthMarq Capital’s New York metro based office has secured $18.8 million in acquisition financing for Colonial Plaza, a 202,810 square foot class “A” suburban office building located at 2101 Rexford Road in Charlotte, North Carolina. The property is located in the South Park sub-market in Charlotte—widely considered the best performing market in the MSA. The transaction was a joint venture between Highbrook Investment Management LLC and LRC Properties, LLC. The acquisition marks LRC Properties’ fourth purchase in just over nine months in the state. “This acquisition financing repatriated equity to the partnerships soon after an all-cash closing,” said Braddish. “The investment allows LRC Properties, LLC to strategically continue their buying spree in the State of North Carolina. The loan was a balance sheet financing for GE that facilitates a repositioning of the asset, while also recognizing additional development rights associated with the site.”
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Northmarq is one of the largest privately held commercial real estate firms in the United States, combining a nationwide presence with deep local expertise. With more than 50 offices across the country, we provide a full suite of debt, equity, investment sales, loan servicing and fund management solutions for a comprehensive range of property types. Our unique structure allows us to connect clients with the best opportunities, yet be nimble enough to ensure access to every expert across our company. The firm manages a loan servicing portfolio of over $78 billion and has completed $69.5 billion in transactions over the past three years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide. For more information, visit www.northmarq.com.
