July 31, 2009
Charlotte Business Journal
The Meridian Corporate Center is officially out of receivership and under new ownership. The owner of the 1.9 million-square-foot University Research Park office complex handed the property over to its lender, The Hartford Financial Services Group Inc., earlier this month in lieu of foreclosure. The transaction was valued at $110 million…Although the litigation between Hartford and Cerberus continues, the Meridian Corporate Center likely becomes more marketable now that it’s out of receivership and has clear ownership, says Andrew Jenkins of Karnes Research Co. And given the current economy, it’s unlikely that Hartford would be able to find a buyer for the office park in the short term anyway, he says.
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Meridian center in Charlotte’s University Research Park is taken back by Hartford Financial
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