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Nova Capital Snaps Up Charlotte East Office Property For $26M

Photo credit: Flazingo Photos/Flickr

Nova Capital Partners acquired the 510k SF Charlotte East complex of office buildings for $26M from an affiliate of True North, a real estate management firm based in White Plains, N.Y. Nova Capital has offices in Charlotte and Raleigh and specializes in value-add properties, the Charlotte Business Journal reports. CBRE's Patrick Gildea and Matt Smith repped Nova Capital Partners.

The 10-building property near Albemarle Road is 72% occupied, with tenants that include the State of North Carolina and Mecklenburg County. The deal is the latest in Nova Capital's investments in greater Charlotte. In 2014, the company bought Quorum Business Park on East Independence Boulevard for $7.5M, and it also owns Monroe Business Park on Monroe Road, and Quorum Marketplace, a retail property.

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