IPA Capital Markets (a division of Marcus & Millichap (NYSE: MMI)) and Green Harbor Capital secured $18 million in financing for the $32 million acquisition of a 31-story Class A office building located at 121 W. Trade Street in Charlotte.

Bobby Werhane in the firm’s Charlotte office and Griffin Dunaway, principal at Green Harbor Capital, secured the financing with a local credit union on behalf of New England Investment Properties.    

Terms of the 5-year loan include a 6.625% interest rate with a 25-year amortization period, a loan-to-value of 65% and no prepayment penalty. 

The property totals 334,368 rentable square feet and is located next to Tyron Street Station. Retail amenities include Reid’s Fine Foods, Charlotte City Club, and a barbershop. The property also features a common building wellness room and podcast studio, a tenant hub with a training room, conference room and lounge, and recently renovated common areas on the upper floors.