Kim BrattainFounder/ CEO, Kim Brattain Media · Award-winning Corporate and Documentary Film Producer

CRE Geoffrey Curme | Kim Brattain Media

20 Jan 2015 · 2 min

Watch on YouTube

2:21

The video profiles the transformation of Charlotte’s Epicenter, a mixed‑use complex that once languished in legal limbo with lawsuits, foreclosure proceedings, and tenants lacking occupancy permits. Geoffrey Curme explains how Jeffrey Kerman Partners identified an opportunity, purchased $94 million of distressed debt, spent an additional $2 million in court to resolve the legal entanglements, and invested in signage, security, lighting, and other upgrades. The revitalized Epicenter became the broadcast hub for Bloomberg, CNN, and CNBC during the 2012 Democratic National Convention, drawing public excitement. By May 2014 the property was sold, with tenants reporting higher sales and satisfaction, and the city gaining a vibrant gathering spot. Looking ahead to 2015, Kerman plans to develop the airspace above the Epicenter with two stacked hotels, cementing its role as a landmark destination.

Chapters

Charlotte's epicenter. Restaurants, gym, movies, drugstore, even a bowling alley. Something for everyone uptown. But that wasn't always the case. A project in limbo. Tenants without occupancy permits. Foreclosure proceedings.
So what we saw was an opportunity to buy the property from the lender at a distressed price and inject new capital into the property.
Perhaps the only people who could optimistically look at the Epicenter's mountain of lawsuits, other than attorneys that bill by the hour, were Jeffrey Kerman Partners. They purchased $94 million debt, spent another $2 million in court to unravel the legal issues, and began a transformation to make the EPICENTER worthy of its name. Upgrades in signage, security, and lighting paid off in the national spotlight during the 2012 Democratic National Convention.
Whenever people would ask me, people from Charlotte would ask me, how can I see what the convention's about, or how can I be part of the excitement, I would always direct them to the EPICENTER because I knew that that's where there was going to be a real hub of activity and people were going to get to see the events really unfolding right there before their eyes.
Indeed, The Epicenter was the broadcast center for Bloomberg, CNN, and CNBC during the convention. But is that what Kerm is most proud of?
When we sold the property in May of 2014, the tenants were happy. We had been able to enable them to execute on their business plans, increase their sales, and also for the city of Charlotte, it's a terrific spot. for people to gather.
Kerm's part in the gathering will continue in 2015 as he develops the airspace above the epicenter with 2 stacked hotels. Congratulations, Jeffrey Kerm, 2015 Counselors of Real Estate Creative Thinker.