CHARLOTTE— Parmenter Realty Partners has secured $119.8 million to acquire Fifth Third Center in Downtown Charlotte. CBRE achieved aggressive interest rates.

CBRE Capital Markets vice chairmans Charles Foschini and Christian Lee, alongside vice president Christopher Apone negotiated the financing on behalf of Parmenter Realty Partners. CBRE’s Atlanta and Charlotte DEF teams assisted Foschini and provided representation to the seller to market the asset and negotiate the sale transaction.

“The cost of capital even when combining a mez and a primary lender were far below what most folks would deem to be available in the market,” Foschini said. “That was a factor of two things: the strength of Parmenter and its operating acumen -- and its ability to put real equity into the deal -- and the quality of the asset and overriding strength and resiliency of the Downtown Charlotte market.”