CHARLESTON, SC-American Financial Resource Group of Philadelphia paid $13.3 million for First Union Center, a 10-year-old 65,000-sf structure in this city's historic district, according to the buyer's news release. Charleston is 200 miles south of Downtown Charlotte.
First Union Center was constructed in 1991 for about what the investment group paid for it. The bank, which occupies only about half of the space in First Union Center, will remain in the building under a long-term lease, with American Financial taking over management.
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By John Jordan | July 09, 2018
The transaction in Huntersville, which closed on July 5, is the largest financing deal for Trez Forman in North Carolina this year. So far in 2018, Trez Forman has lent approximately $98 million in construction and acquisition financing for North Carolina residential projects.
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In mixed-use developments, street activation is key, says Columbia Development's director of leasing, Ron Pfohl.
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The largest transaction thus far for Fund II is a $40-million first priority mortgage for the redevelopment of the former Highland Park Mill, a 150,000-square-foot mixed-use property in Charlotte, NC.
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