News
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EastGroup Properties Acquires Two Buildings in Charlotte for $5.3 Million
January 14, 2010 Posted by North Carolina RealEstateRama
Jackson, MS - January 14, 2010 - (RealEstateRama) — EastGroup Properties (NYSE-EGP) today announced the acquisition of two business distribution buildings containing 193,000 square feet in Charlotte, North Carolina for a combined purchase price of $5,250,000. The buildings, which will be renamed Commerce Park 2 and 3, are located in Charlotte’s southwest submarket. They were constructed in 1981 and 1987 and are presently 87% occupied by nine customers. The buildings are projected to generate an annualized 11.7% yield at their current occupancy and rents.
Gov. Perdue Requests Federal Disaster Declaration for Dare County
November 30, 2009 Posted by North Carolina RealEstateRama
Raleigh, NC - November 25, 2009 - (RealEstateRama) — Gov. Perdue today requested assistance from the federal government for homeowners and businesses in Dare County affected by the recent nor’easter.
State to Gain $263 Million in Affordable Apartments
August 23, 2008 Posted by North Carolina RealEstateRama
Raleigh, NC - August 23, 2008 - (RealEstateRama) — North Carolina will gain $263 million in affordable rental apartments as the result of federal tax credits approved last week by the Tax Reform Allocation Committee and loans from the North Carolina Housing Finance Agency.
Mercantile Bank parent runs into real estate fraud
June 23, 2007 Posted by North Carolina RealEstateRama
The South Financial Group said it would classify $21 million in loans as nonperforming as the result of a fraudulent land sale scheme in North Carolina.
