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**Mesa West Capital REIT Acquires Charlotte Office Property in $158.8M Foreclosure Sale**
Mesa West Capital, through a real estate investment trust (REIT) it oversees, has acquired The Towers at SouthPark in Charlotte, North Carolina, in a foreclosure sale for $158.8 million. The REIT’s bid was the sole offer for the two-building office complex.
Formerly known as SouthPark Towers, the property consists of approximately 430,000 square feet of office space across two buildings located at 6000 and 6100 Fairview Road. The seller, Crestlight Capital, defaulted on a $167.8 million loan from Mesa West, leading to the foreclosure.
The REIT previously served as the lender on the 27-year-old property when Crestlight purchased the towers for $192.5 million in May 2022.
As of the latest reports, The Towers at SouthPark are approximately 77.2% leased. Notable tenants include Paycom, Insperity, Byron Financial, Stifel, USI Insurance Services, and New York Life Insurance Co.
In July 2024, Crestlight completed a $20 million renovation and rebranding of the complex. The updates included redesigned lobbies in both buildings, a new tenant lounge on the second floor of the 6100 building, updated board rooms and common areas, a coffee bar, and a 1,500-square-foot fitness center.
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