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700 E Morehead St.

Updated Feb 4, 2025

RRA Capital Provides $7.2 Million Loan For Office Property At 700 E Morehead St In Charlotte
FINANCEDOffice

RRA Capital Provides $7.2 Million Loan For Office Property At 700 E Morehead St In Charlotte

700 E Morehead St.

$7,200,000

Building Size

Asset Type

Office

Closing

Aug 21, 2024

About this deal

AI

The asset involved in this transaction is an office property located at 700 E Morehead St., Charlotte. The loan amount secured for this property is $7,200,000.00.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $7,200,000.00
  • Address: 700 E Morehead St.
  • Market: Charlotte
  • Lender: RRA Capital
  • Brokers: Shippen Browne
  • Date: 08/21/2024

The deal features representation by Shippen Browne, who acted in the capacity of broker for this transaction. RRA Capital provided the financing for the deal, demonstrating their role as the lender. The transaction was recorded on August 21, 2024.

Players

Shippen Browne

Bellwether Enterprise

Broker

1 deal

Broker
RRA Capital
RRA CapitalLender
Redline Property Partners
Redline Property PartnersLandlord

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

2.20%

Cash-on-Cash

-0.63%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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