Invesco Real Estate Purchases Mixed-use Asset From Crescent Communities & Faison For $58 Million In Charlotte

The property asset involved in the context is located at 1942 East 7th Street, Charlotte, NC. It is a mixed-use development that includes offices, retail space, and parking. The building is mostly leased, indicating strong demand for good office space in the market. The transaction price for this asset was $58,000,000.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $58,000,000
• Buyer: Invesco Real Estate
• Seller: Crescent Communities & Faison
• Brokers: Patrick Gildea & Matt Smith - CBRE

Crescent Communities and Faison sold the Elizabeth on Seventh to Invesco Real Estate. The deal was facilitated by brokers Patrick Gildea and Matt Smith from CBRE, who represented the parties in this transaction.