Feb 1, 2016, 12:22pm EST | Will Boye | Charlotte Business Journal
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.
The time (at Blue Vault's 2nd Annual Broker Dealer Educational Summit) proved extremely informative.