Lowe Enterprises follows up San Jose buy with purchase of Charlotte Aloft

Lowe Enterprises Investors has acquired the Aloft Charlotte Uptown @ the EpiCentre on behalf of an investment client. The 175-room hotelis in the Uptown District of Charlotte, N.C. LEI affiliate, Destination Management has assumed management of the property, which will continue to operate as an Aloft hotel.

“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,” said 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.”

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.

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Russell Munn of Lowe Enterprises Investors led the acquisition team. Financing for the acquisition was provided by Wells Fargo.

The acquisition follows Lowe's purchase of the 100-room Hotel De Anza in San Jose, Calif., earlier this month.

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