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Bank Of America Tower To Be Sold In A $436 Million Deal

Bank of America’s new tower in Charlotte apparently has a potential buyer now, as the prime property is expected to be sold off in a record deal in the state’s history. A new developer has reportedly made an offer to Bank of America for buying the office premises in Charlotte. The buyer, Highwoods properties, has made an offer of USD 436 million the Bank of America owners, and is expected to see off the deal by the end of coming November.

The original owners of the tower, Goldman Sachs and developer partner Lincoln Harris had bought the towers in Charlotte back in 2016 for a mere USD 37.5 million. The Bank of America did not move into the tower straight away and had its employees moving in only last week. The tower is a 33-storey office space with prime facilities and amenities. Despite its employees moving into the prime towers last week, the headquarters for Bank of America continue to remain where they are, a few blocks away from the same block. As per CRBE, the previous most expensive deal in the state was that of One Wells Fargo Center which was sold for USD 284 million. The real estate company has stated if the deal goes through, it will overtake it to become the most expensive deal in the state.

Talking about the real estate market in America, things don’t look all that bright as it fell down sharply after Chinese investors have started pulling out investments. The pullout has a handful of reasons behind it. The trade war between China and United States, of course, has been the primary reason, but the disinterest from Chinese investors began after the Chinese government depreciated Yuan. The state worst hit because of this would be California, where the share for Chinese investors stood at 34 per cent.

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