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Tuesday, 11 June 2019

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

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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...

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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
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Dan Moynihan

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