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CHARLOTTE — Chicago commercial real estate firm JLL has been appointed receiver of an uptown office tower following a lawsuit filed by the lender against the property owners over a default on a $93.5 million loan that funded the $133.5 million acquisition in 2018.
400 South Tryon Property, a limited liability company linked to lenders Citizens Bank and Synovus Bank, filed the suit in Mecklenburg County Superior Court on Nov. 5 against Tryon Property Owner LP.
In the suit, the plaintiff sought appointment of a limited receiver for 400 South Tryon in order to hold the property as it begins foreclosure proceedings, according to the suit. The 32-story, 587,000-square-foot office tower is at 400 S. Tryon St. in uptown Charlotte.
Read more here.
VIDEO: Meck County court begins process of foreclosure on uptown’s EpiCentre complex
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