South Street’s commercial focus is on the fastest-growing submarkets in the nation’s fastest-growing geographic region, the Southeast. The area surrounding the Charlotte International Airport is a particular focal point. In 2020, South Street acquired three of the six office towers in Coliseum Centre. Central to the successful acquisition was bringing a 25,000-square-foot “tenant in tow” into the transaction, raising occupancy to 92%. The current market, where corporations are moving from city center to suburban offices, especially with proximity to airports, enhances the investment outlook.
Three 6-story office buildings, acquired February 2020
PROVIDED BY BROOKFIELD ASSET MANAGEMENT
CONSERVATIVE BALANCE SHEET DEBT (~64% LTV)
MAJORITY OF EXISTING RENTS BELOW MARKET VALUE
IN-PLACE RENTS ~20% BELOW MARKET
DIVERSE TENANT BASE