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Charlotte Commercial Real Estate

Refi and More Refi

The Fed says interest rates will be low for quite some time, and one of the upshots for CRE is that now is the age of refi. In a deal closed this week, CBRE arranged $141.5M in permanent financing through MetLife on behalf of Hines US Core Office Fund to refi two CBD office towers in Charlotte—Charlotte Plaza (pictured) and Carillon—for $82.5M and $59M, respectively. The loan includes a three-year term with 12 months interest only, and an 65% LTV. CBRE first VP Hal Kempson tells us they're "working on several other refis and acquisitions as we speak.?

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