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Sale of Carillon building closed, Grand Bohemian Hotel coming soon

February 2, 2016

Feb 1, 2016, 12:22pm EST | Will Boye | Charlotte Business Journal

Hotel, bell, hospitality.

A real estate investment trust managed by KBS has closed on its $147 million purchase of the Carillon office tower in uptown Charlotte.

KBS Real Estate Investment Trust III purchased the 24-story, 476,308-square-foot building from real estate firm Hines. As of Dec. 10, the Carillon building was 92% leased to 46 tenants with a weighted-average remaining lease term of 5.1 years, according to KBS, which said last year it was under contract to buy the office tower.

The Kessler Collection, a Florida-based hospitality company, purchased a 0.58-acre site next to the Carillon building in September and is planning to develop a “four-diamond” Grand Bohemian Hotel that is expected to be complete in 2018, KBS says.

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Thomas E. Burns, III
July 29, 2015
February 22, 2016

I subscribe to Blue Vault to keep up with the sponsors and their wholesalers! The analysis keeps me up to date with the various portfolios and the way they are managed, including the differences between them.