Updated Oct 14, 2026
John Goff Of Crescent Real Estate Acquires Air Rights In Charlotte For $72.9M From Mike Freno
300 South Tryon Street
$72,900,000
$2,545/SF
Building Size
28,644 SF
Asset Type
Mixed-use
Closing
Oct 13, 2026
About this deal
AI
Crescent Real Estate acquired air rights totaling 28,644 square feet at 300 South Tryon Street in Charlotte, NC. The transaction was completed at a price of $72,900,000, representing a price per square foot of $2,545. The air rights extend from 765 to 960 feet in elevation and encompass a parcel of 0.65 acres, which includes the site of the Kimpton Tryon Park Hotel.
Summary of transation details:
- Property Type: Mixed-use
- Transaction Amount: $72,900,000
- Buyer: John Goff - Crescent Real Estate
- Seller: Mike Freno - Barings
- Transaction Date: October 1, 2026
- Location: 300 South Tryon Street, Charlotte, NC
- Square Footage: 28,644
- Price per Square Foot: $2,545
The deal involved John Goff representing Crescent Real Estate, while Mike Freno represented Barings in the transaction. The acquisition enhances Crescent Real Estate's portfolio in uptown Charlotte, marking a significant investment in the area's development potential.
On the Map
$72,900,000
$2,545/SF
Mixed-use
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Players
Tryon Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.22%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93