Trinity Capital Advisors Purchases 7825 Ballantyne Commons Parkway
November 29, 2011
Charlotte, NC – November 29, 2011 – Trinity Capital Advisors purchased the loan secured by 7825 Ballantyne Commons Parkway, a 27,779 SF Class A medical office building in Charlotte’s Ballantyne submarket. 7825 Ballantyne Commons Parkway is strategically located at the highly-visible intersection of Ballantyne Commons Parkway and Rea Road. Carmel Pediatrics, Total Spine Specialists, and Sona MedSpa are several of the building’s long-term tenants.
After purchasing the loans, Trinity Capital negotiated a settlement agreement with the borrowers and guarantors, releasing the guarantors from their repayment guarantees on the loans in exchange for their ownership interests.
“This investment is consistent with Trinity Capital’s strategy of acquiring high-quality assets at a compelling basis; in this transaction, as with our other note purchases, we provided a quick and certain solution for both the lender and borrower, who owed more than the building was worth,” noted Walker Collier, Managing Director for Trinity Capital. Collier said the property’s location in Charlotte’s Ballantyne submarket was a major draw for the company. “We couldn’t pass up the opportunity to add a Ballantyne-area property to our portfolio.”
Trinity Capital Advisors has hired Lincoln Harris, who was the receiver on the property, to handle leasing. Trinity Partners was hired to serve as the building’s property management company.