Ballantyne Corporate Park

March 8, 2017 Comments Off on Northwood Investors Nab $350M in Acquisition Financing Views: 370 National News, North Carolina, Southeast

Northwood Investors Nab $350M in Acquisition Financing

Northwood Investors obtained combined acquisition financing totaling $350 million for a mixed-use portfolio in Ballantyne Corporate Park in Charlotte, NC. Northwood ended up paying a total $1.2 billion to seller Bissell Cos. for 13 office properties, two retail buildings and two hotels, which comprises the majority of the 4.2-million-square-foot Ballantyne Corporate Park, on Interstate 485.

HFF’s Travis Anderson led the team that worked on behalf of Northwood to secure three separate acquisition loans. These included a fixed-rate loan with two life companies on the office and retail components, and two bank loans for the two hotels. Northwood assumed existing debt on the other remaining assets in the park.

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