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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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Matthew C. Strife
Blue Vault Services
April 11, 2016

Blue Vault's services are without question great resources for the review of the nontraded products offered.