Updated Nov 28, 2024
Square Mile Capital Provides $184.3M Construction Loan For Office Tower In Charlotte, NC
600 South Tryon Street, Charlotte, North Carolina 28202, United States
$184,300,000
$449/SF
Building Size
410,000 SF
Asset Type
Office
Closing
Aug 1, 2022
About this deal
AI
The property involved in this transaction is an office building located at 600 South Tryon St in Charlotte, NC. The property spans approximately 410,000 square feet and is owned by Goldman Sachs Asset Management & Lincoln Harris. The lender for this transaction is Square Mile Capital and the loan amount is $184,300,000. This loan is a construction loan.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $184,300,000
- Address: 600 South Tryon St
- Market: Charlotte, NC
- Asset Type: Office
- Square Footage: 410,000
- Lender: Square Mile Capital
- Landlord: Goldman Sachs Asset Management & Lincoln Harris
- Brokers: JLL
- Loan Type: Construction loan
JLL, a brokerage firm, represented the parties involved in this deal.
Players
Charlotte Office Market Snapshot
Boundary boundary · Office · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.09%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93