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Greystone Closes $33M Affordable Housing Transaction

Greystone Closes $33M Affordable Housing Transaction

By Eliza Theiss, Associate Editor Greystone Affordable Housing Initiatives LLC (GAHI), a leading provider of affordable housing recapitalization and rehabilitation transaction management services, announced the closing of a $33 million multifamily transaction for a North Carolina portfolio of family- and elderly-designated properties.  The USDA Rural Development portfolio encompasses 12 properties…

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LEED Silver Multifamily Property Sold for $74M

LEED Silver Multifamily Property Sold for $74M

By Eliza Theiss, Associate Editor Post Properties Inc. has acquired Circle at South End from Crescent Resources in one of Charlotte’s priciest multifamily transactions. Post paid $74 million, or $205,555 per unit, for the property, which it immediately re-branded as Post South End. The 360-unit property is located in the…

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Eastland Mall May Get New Life

Eastland Mall May Get New Life

By Eliza Theiss, Associate Editor Eastland Mall, eastern Charlotte’s once-reigning shopping mall, could once again become a revenue-generating property. According to a report by the Charlotte Observer, officials have put the purchase of Eastland on the city’s immediate agenda with a reported $13.2 million price tag. If the city were…

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The Vue’s Woes Over?

The Vue’s Woes Over?

By Eliza Theiss, Associate Editor It seems Charlotte’s ultimate luxury residential tower is at a crossroads.  Real estate firm HFF LP announced it has closed the sale of a loan secured by The Vue—the 409-unit, 51-story Class A luxury residential tower located in Charlotte’s Fourth Ward. As previously reported, HFF…

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The Palisades Purchased; Mooresville Luxury Equestrian Property to Be Auctioned

The Palisades Purchased; Mooresville Luxury Equestrian Property to Be Auctioned

By Eliza Theiss, Associate Editor Standard Pacific Homes has purchased a 1,100-home site at the 1,600-acre master-planned community—The Palisades—on the shore of Lake Wylie, N.C. The value of the deal has yet to be disclosed, but according to a Standard Pacific Homes press release, the purchase is the largest community…

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Fifth Third Center Acquired by Parmenter Realty

Fifth Third Center Acquired by Parmenter Realty

By Eliza Theiss, Associate Editor Lately, the Charlotte office market seems to be as hot as the temperatures. Just a little over a week after Azrieli Group Ltd. entered a $245 million purchase agreement for One Wells Fargo Center, and less than a month after Parkway Properties closed on the…

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Former Wachovia HQ to Be Purchased for $245M

Former Wachovia HQ to Be Purchased for $245M

By Eliza Theiss, Associate Editor Hot on the heels of Parkway Properties Inc.’s $250 million purchase of Hearst Tower, one of the biggest office property sales of the year in the Charlotte area, comes another major sale. Israeli real estate firm Azrieli Group Ltd. recently announced it has entered a…

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$52M Luxury Apartment Community Breaks Ground

$52M Luxury Apartment Community Breaks Ground

By Eliza Theiss, Associate Editor Crescent Resources LLC has recently broken ground on its newest project: the $52 million luxury apartment community—Circle South Park—in Charlotte’s South Park neighborhood. Developers expect the first apartments to go on the market by the summer next year. Located near SouthPark mall on Carnegie Boulevard…

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Parkway Closes $250M Hearst Tower Deal

Parkway Closes $250M Hearst Tower Deal

By Eliza Theiss, Associate Editor Orlando-based real estate investment firm, Parkway Properties, Inc., announced it has completed the high-profile purchase of Charlotte’s fourth largest office building—the Hearst Tower. Closing on the office property was made possible by the $200 million equity investment promised by TPG earlier this year. The 972,000-square-foot,…

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174-Key Holiday Inn Purchased by GF Management Affiliate

174-Key Holiday Inn Purchased by GF Management Affiliate

By Eliza Theiss, Associate Editor GF Management, a leading national hotel ownership and management company, has announced in a press release the purchase of the 174-key Holiday Inn—Charlotte University by GF affiliate UPHIC Associates LLC for an undisclosed amount. The hotel is located at 8520 University Executive Park Dr., a…

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Mooresville to Become Mecca for Furniture Tourism

Mooresville to Become Mecca for Furniture Tourism

By Eliza Theiss, Associate Editor At least that is what Michael Bay, owner of Merinos Home Furnishings is hoping for. The 500 South Main Street furniture and indoor décor complex’s owner envisions his expanding furniture collection to become “one of the largest, most spectacular stores in the world, a center…

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Quicken Loans Mortgage Services Grows in Charlotte

Quicken Loans Mortgage Services Grows in Charlotte

By Eliza Theiss, Associate Editor Quicken Loans Mortgage Services (QLMS) of Quicken Loans Inc., the country’s largest online lender, has announced plans to expand its Queen City offices. QLMS, a mortgage service provider to community banks, credit unions and mortgage professionals in all 50 states will expand its Charlotte presence…

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