A&T foundation spends $46.85M on real-estate deals

The N.C. A&T Real Estate Foundation has spent $46.85 million on two transactions in Greensboro, including buying Collegiate Commons apartment complex, according to a Guilford County Register of Deeds filing Wednesday.

The foundation paid $14.35 million for the complex at 1407 Cunningham St. near the A&T campus. The seller was NWL — Collegiate Commons LLC of Raleigh.

The foundation also paid $32.5 million for 12 parcels in Greensboro. The seller was Gboro AG II LLC of Greensboro. The properties include: 501 and 513 S. Booker St., 401 and 427 S. Benbow Road, 1404, 1406 and 1410 Cunningham St., 1407 and 1519 Perkins St., and 1402 and 1414 E. Washington St.

Kim Cameron, the foundation's interim executive director, said the group "purchased the properties to meet the growing student population" at A&T.

"The tracts from GBORO AG II LLC are actually the combined Sebastian Villages. This will add 1,164 beds to the foundation's inventory for student housing."

The foundation describes its mission as “we provide opportunities for monetary and other contributions from individuals, public and private entities to aid and support N.C. A&T’s endowment for scholarships. Contributions also are used to develop and increase campus facilities that provide broader educational opportunities and services for students, alumni and the community at large.”

In June, the foundation spent $19.57 million on properties owned by CEV Greensboro LLC and CEV Greensboro II LP.

Richard Craver

Auto catalyst maker plans manufacturing plant in Hickory

Cataler North America Corp., a manufacturer of catalysts for automobiles and engines, said Wednesday it would build a 100,000-square-foot plant in Hickory, creating 151 jobs, and spending $42 million on capital investments.

Cataler North America is a wholly owned subsidiary of the Cataler Corp. a Japanese-based firm that operates seven manufacturing facilities globally.

The subsidiary, established in 2002, is based in Lincolnton and supplies automotive catalysts for some of the world’s largest automobile producers. It has 378 employees in North Carolina.

The company has been made eligible for up to $1.03 million over 12 years in performance-based incentives from the state’s Job Development Investment Grant program.

Richard Craver

Blue Ridge Bancshares gains NYSE American listing

Blue Ridge Bankshares Inc., based in Luray, Va., said Thursday that its common stock has been approved for listing on the NYSE American exchange under the “BRBS” symbol.

The listing goes into effect Monday.

“Listing on the NYSE American elevates the profile of our company and supports our efforts to generate attractive returns, transparency, and liquidity for our current and prospective shareholders,” said Brian Plum, the bank’s president and chief executive.

Blue Ridge announced May 14 plans to spend $42.5 million to buy Virginia Community Bankshares Inc. The deal is projected to close in the fourth quarter. It will move its headquarters to Charlottesville, Va., as part of the purchase. Blue Ridge has operations in Greensboro under the Carolina State Bank brand.

Richard Craver

Wendover Commons lot bought for $31.35 million

A Houston commercial real-estate property manager has spent $31.35 million to buy a lot in Wendover Commons anchored by an Academy Sports store, according to a Guilford County Register of Deeds filing Wednesday.

The buyer of the 20.12-acre property at 4528 Wendover Ave. is Wendover Commons LP, an affiliate of Regional Properties Texas.

The seller was HDC-Wendover-Greensboro Partners LP, also of Houston.

Richard Craver

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