RALEIGH, NC-Two distressed office buildings located near the PNC Arena here are to be acquired by Prudential Real Estate Investors pending court approval for $45.75 million.
Prudential was the highest of nine offers for the two 100,000-square-foot buildings, according to a court filing on Monday by bankruptcy trustee Joseph Calloway. The pending sale requires the approval of bankruptcy court Judge Randy Doub, which could take place by September, according to the Triangle Business Journal.
Developer Harold Lichtin put the property into bankruptcy amid loan renegotiations with BB&T in February 2012. The bank sold the loans to an affiliate of Goldman Sachs.
Last month, Prudential Real Estate Investors announced it had entered a $54-million joint venture with Dominion Realty Partners to build Charter Square, an 11-story office building in downtown Raleigh. See story in the Triangle Business Journal.
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