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Investment Group Takes Morehead Medical Plaza

CHARLOTTE, NC-An affiliate of the Alert Group sells the 190,771-sf property, which it developed two years ago.

By Melissa Kress | Updated on July 25, 2007

CHARLOTTE, NC-A local investment group has taken the keys to the Morehead Medical Plaza here from Alter+Care, an affiliate of the Chicago-based Alter Group. The 190,771-sf medical office property is adjacent to the Carolinas Medical Center.

EnTrust Realty Advisors, also an affiliate of the Alter Group, completed the sale on behalf of Alter+Care. James I. Clark III, EnTrust managing principal, tells GlobeSt.com he could not reveal the price; however, he says the deal carried a low 6% cap rate. He adds Alter+Care sold Morehead Medical Plaza after receiving an unsolicited offer from a group involved with managing the property.

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