Print this page
Tuesday, 11 June 2019

Knighthead Lends $34Mln to Remake Shuttered Raleigh, N.C., Mall into Office Space

Written by 
Rate this item
(0 votes)

Knighthead Funding LLC has provided $34 million of financing for the conversion of the former Morrisville Outlet Mall near Raleigh, N.C., into office space.

As reported, the property, with 248,000 square feet, was acquired by a venture of Equator Capital Management and OCS Capital for $15.5 million. It was constructed in 1981 on a 25-acre parcel at 1001 Airport Blvd., near Raleigh-Durham International Airport and the Research Triangle.

In recent years, however, its fortunes faded as tenant after tenant left. In 2013, International Restaurant Management Group had acquired the empty property with plans to convert it into an Asian-themed...


Log In or



weekly-call-to-action

“The Weekly”

“The Weekly” is Commercial Real Estate Direct’s PDF newsletter, sent to subscribers every Friday morning. With over 100 news stories published on Commercial Real Estate Direct each week, “The Weekly” features the top stories in commercial real estate that industry participants need to know first. “The Weekly” also contains:

  • Breaking mortgage, CMBS, and REIT news

  • Quarterly league tables with rankings of B-piece buyers, book runners, and lenders

  • Industry moves and changes in “The Insider“

Additional Info

  • Syndicate to Realpoint: No
  • Cities: Raleigh
  • States: North Carolina
  • Sector: Office
  • Subject: Mortgages/Financing (MOR)
  • Valuation: Between $25 million and $50 million
  • Private: Yes
Read 227 times
Dan Moynihan

Latest from Dan Moynihan