Facility Highlights
- AvidXchange HQ located in Charlotte, NC
- Constructed in the quickly developing office hub of the uptown neighborhood of Charlotte
- Located across from unique amenities such as The Music Factory, coffee shops, and eateries
- 201,450 SF office building, with second building shortly thereafter
Transaction Summary
- In representing the developer on this project, we helped structure the relationship between the developer and the landholder
- SVN|Angelic played a significant role in the negotiations with the tenant – structuring the lease in a way maximized the developer’s profit and in a way that facilitated the optimal partnership between the developer and the financial partner
- SVN|Angelic structured the developer’s agreement with the financial partner to achieve an “Infinite IRR” because the developer did not need to put down any of their own money, yet got paid both a development fee and a profit markup on the sale cap rate
- We negotiated the financial partnership for the developer with a group who funded construction and at completion purchased the property at a pre-negotiated price
Key Benefits
- SVN|Angelic’s “Infinite IRR Program” structure allowed the developer to realize significant profits at completion without needing to put down any of their own money
- Working with SVN|Angelic allowed for the simultaneous negotiation of purchase contract and lease agreement, achieving the highest sale price possible for the developer by negotiating the lease language to increase the value of the property by a significant margin
- SVN|Angelic’s deep understanding of tenant financials helped convince the buyer to purchase the property after “passing” on the deal when initially brought it directly by the developer