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Highwoods Properties Acquires Office Asset In Charlotte For $111.5 Million From Lincoln Property Company
SOLD
$111,500,000
North Carolina
See Similar DealsOffice
Sold 08/22/2025
SOLD
Highwoods Properties Acquires Office Asset In Charlotte For $111.5 Million From Lincoln Property Company
720 South Church Street
See Similar DealsOffice
Sold 08/22/2025
Summary
NORTH CAROLINA
Asset Type:Office
Transaction Type:Sale
The property asset involved in this transaction is an office building located at 720 South Church Street in Charlotte, NC, encompassing 10.2 acres. The sale was finalized on August 22, 2025, with a transaction amount of $111,500,000.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $111,500,000
- Buyer: Highwoods Properties
- Seller: Lincoln Property Company
- Date of Sale: August 22, 2025
- Market: Charlotte, NC
- Acres: 10.2
Highwoods Properties is noted for acquiring the 3,057-space Legacy Union Parking Garage in Uptown Charlotte as part of this transaction, highlighting the planned improvements included in the deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$5,946,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$396,135.94
Cash-on-Cash Return-1.27%
Monthly Debt Service$528,566.88
Annual Debt Service$6,342,802.62
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