LM Real Estate Partners Acquires Industrial Facility In Charlotte For $97M

The industrial facility at 1900 Continental Blvd. in Charlotte, N.C., spanning 1.4 million square feet, was recently acquired by LM Real Estate Partners for $97 million. The transaction was funded through a $67 million loan provided by Voya Investment Management.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $97,000,000
• Address: 1900 Continental Boulevard
• Market: Charlotte, NC
• Seller: Somerset Properties & Waterfall Asset Management
• Brokers: Chris Loyd, Christopher Skibinski & Erik Foster - Avison Young
• Lender: Voya Investment Management
• SF: 1,400,000
• PPSF: $69

The deal involved the collaborative efforts of brokers Chris Loyd, Christopher Skibinski, and Erik Foster from Avison Young, who represented the buyer, LM Real Estate Partners, and the sellers, Somerset Properties & Waterfall Asset Management.