Hearing held discussing terms of Charlotte’s Epicentre receiver for financial troubles

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CHARLOTTE, N.C. (FOX 46) – Once a hotspot for nightlife and retail, Uptown Charlotte’s Epicentre has been flailing financially for months. After defaulting on its $85 million dollar mortgage, a receiver was appointed to oversee management of the property.

On Tuesday, a status hearing was held in Mecklenburg Business Court with all parties – the receiver, the bank and the EpiCentre, present.


Epicentre appointed ‘a receiver’ after defaulting on $85 million mortgage

Sabrina Jones, the receiver from CBRE real estate said it’s been a “very busy 39 days” since she was appointed. She’s made progress getting documents, having regular communications with borrowers and there is only twenty percent of outstanding items she is waiting to receive. 

Jones also told the judge she’s been performing “triage” and trying to understand the posture of each tenant including “seeing what we can do on receivership side” because every tenant has been affected by covid. Jones is also pursuing “some covid related rent relief.”

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When the judge asked how long the receivership would continue, Jones was uncertain.

The judge asked the lawyers to submit briefs on outstanding issues by September 10, 2021. After that, another status hearing is expected to be scheduled.

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