American Financial Realty Trust acquired 101 Independence Center, a 526,000-square-foot, class A office building in Charlotte, N.C.

Cousins Properties Inc. sold the property for an aggregate purchase price of $100 million, including the assumption of $43.3 million of outstanding indebtedness.

101 Independence Center, located at the intersection of Tryon and Trade Streets, was 92 percent leased at the time of sale, with Bank of America occupying 68 percent, or 360,000 square feet, of the available space. In connection with the acquisition, Bank of America agreed to extend its leases for 344,000 square feet at the property through 2021, subject to certain termination rights, and AFRT paid Bank of America a lease extension fee of $5.7 million. The company intends to prepay the outstanding indebtedness on the property in the next 30 days.

American Financial Realty Trust is a self-administered, self-managed real estate investment trust that acquires properties from regulated financial institutions.


What’s your opinion? Send your Letter to the Editor to

Show Comments Hide Comments
Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Thank you for subscribing to Morning Headlines.
Back to top
Only 3 days left to register for Inman Connect Las Vegas before prices go up! Don't miss the premier event for real estate pros.Register Now ×
Limited Time Offer: Get 1 year of Inman Select for $199SUBSCRIBE×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription