Updated Feb 4, 2025
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.
On the Map
$7,200,000
Office
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Players
Charlotte Office Market Snapshot
Boundary boundary · Office · Loan transactions
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Deal FAQ
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