CHARLOTTE, NC—Lowe Enterprises Investors reports it has purchased the Aloft Charlotte Uptown @ the EpiCentre on behalf of an unnamed investment client.
The Aloft Charlotte is a 175-room hotel located at 210 East Trade St. in the Uptown District of the city. Destination Management, an affiliate of Los Angeles-based Lowe Enterprises, has assumed management of the property and will continue operations at the facility with the Aloft flag. No terms of the transaction were released.
“Charlotte is one of the strongest markets in the Southeast and one of the fastest growing cities in the U.S. making it a very attractive area for investment,” says Bleecker P. Seaman, co-CEO of Lowe Enterprises Investors. “The Aloft Charlotte Uptown offers guests the many entertainment options available at the EpiCentre as well as proximity to leading local businesses. LEI will make targeted upgrades to the property while focusing on operations to continue to attract local business.”
One of the newest hotels in the area, the Aloft Charlotte was developed in 2009 as a cornerstone of the EpiCentre of Uptown Charlotte, a mixed-use entertainment complex with more than 300,000 square feet of office, restaurants, nightclubs, and specialty retail outlets. The hotel is adjacent to the world headquarters of Bank of America and within walking distance from the Bank of America Stadium, the NASCAR Hall of Fame and the Charlotte Convention Center.
The hotel features a fitness center, café, indoor pool, 2,500-square-foot meeting facility, business center and the popular w xyz bar.
Russell Munn of Lowe Enterprises Investors led the acquisition team in the transaction. Financing for the acquisition was provided by Wells Fargo.
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