{"id":1004192413,"date":"2017-10-03T10:58:20","date_gmt":"2017-10-03T18:58:20","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004192413"},"modified":"2022-12-08T13:10:45","modified_gmt":"2022-12-08T21:10:45","slug":"hff-secures-21m-financing-for-charlotte-office-asset","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/hff-secures-21m-financing-for-charlotte-office-asset\/","title":{"rendered":"HFF Secures $21M Financing for Charlotte Office Asset"},"content":{"rendered":"<p>By Timea Papp<\/p>\n<div id=\"attachment_1004192414\" style=\"width: 288px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/4421.jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004192414\" data-attachment-id=\"1004192414\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/hff-secures-21m-financing-for-charlotte-office-asset\/attachment\/4421\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/4421.jpg\" data-orig-size=\"640,691\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"301 Midtown\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;301 Midtown&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/4421.jpg?w=640\" class=\"wp-image-1004192414 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/4421.jpg\" alt=\"301 Midtown\" width=\"278\" height=\"300\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/4421.jpg 640w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/4421.jpg?resize=278,300 278w\" sizes=\"auto, (max-width: 278px) 100vw, 278px\" \/><\/a><p id=\"caption-attachment-1004192414\" class=\"wp-caption-text\">301 Midtown<\/p><\/div>\n<p>HFF secured $20.7 million in financing for 301 Midtown, a 184,055-square-foot, multi-tenant office property previously known as the Cameron Brown Building in Charlotte\u2019s Second Ward. The advisory team worked on behalf of the borrower to secure the floating-rate acquisition loan through Citizens Bank.<\/p>\n<p>Located at 301 S. McDowell St., in the city\u2019s central business district, the property was completed in 1971 and underwent renovations in 2012. The building features on-site security, a conference room, maintenance and is currently 79 percent leased to a diverse tenant roster.\u00a0<\/p>\n<h2>Renovation plans<\/h2>\n<p>The HFF debt placement team of Senior Managing Director Travis Anderson and Senior Director Cory Fowler assisted The Fallon Co. in securing the mortgage. The Boston-based developer acquired the asset for $24.5 million in July.\u00a0The <a href=\"https:\/\/www.commercialsearch.com\/news\/the-fallon-co-shells-out-25m-for-charlotte-office-asset\/\">new owner plans<\/a> to invest in capital improvements to the property including site landscaping, improved entrance lobbies, new amenities, building security, lighting and possible facade embellishments.<\/p>\n<p><em>\u201cWe are excited to see Fallon\u2019s business plan unfold as they are an excellent owner and developer with a thoughtful approach for this asset,\u201d<\/em> said Fowler, in a prepared statement<em>. \u201cUniquely positioned adjacent to the Government Center, the property should benefit from increasing demand for office space in Uptown and surrounding areas.\u201d<\/em><\/p>\n<p>The 12-story property is proximate to numerous Midtown amenities and is within walking distance of the Spectrum Arena, BB&amp;T Ballpark, Bank of America Stadium, the Mecklenburg Court House and Government Center. Additionally, 301 Midtown is accessible via Interstates 277, 77 and 85, while Bank of America\u2019s headquarters and Wells Fargo\u2019s East Coast headquarters are only a\u00a0few blocks away.<\/p>\n<p><em>Image courtesy of Yardi Matrix<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The debt placement team of Travis Anderson and Cory Fowler worked on behalf of The Fallon Co. in arranging the floating-rate mortgage.<\/p>\n","protected":false},"author":240,"featured_media":1004192414,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1582,21743,21782,21825,21742,21747],"tags":[36644,33925,32792,36642,34950],"class_list":["post-1004192413","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-charlotte","category-deals","category-development","category-finance","category-latest","category-office","tag-cameron-brown-building","tag-citizens-bank","tag-hff","tag-the-fallon-company","tag-travis-anderson"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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