Atlanta & Southeast News In Your Inbox
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Lender Pays $158.8M for Charlotte Office Project
A REIT overseen by Mesa West Capital acquired The Towers at SouthPark in a foreclosure sale for $158.8 million. It was the only bid on the Charlotte two-building property.
The buildings, formerly known as SouthPark Towers, total approximately 430,000 square feet and are located at 6000 and 6100 Fairview Road. Crestlight Capital, defaulted on a $167.8 million loan with Mesa West.
The Triad Business Journal reports that the Mesa Capital REIT was the lender on the 27-year-old property when Creslight acquired the towers for $192.5 million in May 2022.
The Towers at SouthPark are currently about 77.2% leased. Current tenants include Paycom, Insperity, Byron Financial, Stifel, USI Insurance Services and New York Life Insurance Co.
In July 2024, Crestlight completed a $20 million renovation of the property that included the rebrand, an overhaul of both buildings’ lobbies, the addition of a tenant lounge on the second floor of building 6100, board rooms, common areas and a coffee bar, and a 1,500-square-foot fitness center.
