Growing Real Estate Firm Relocates to Focus on Carolinas

Redline Property Partners's new HQ in Charlotte

Redline Property Partners's new HQ in Charlotte will help it better focus on growing Carolinas markets like Greenville.

Real estate firm Redline Property Partners has relocated its headquarters to Charlotte from Atlanta to better focus its investment activities on growing Carolinas markets, including Greenville.

The company currently owns and manages real estate assets in the Atlanta, Charlotte and Minneapolis regions and has plans to expand to Greenville, Charleston and Raleigh. It previously owned projects in southeast Florida.

“Our strategy is to find truly great properties that are suffering from short-term distress and transform them into spaces that serve today’s economy,” said Managing Partner Andrew Webb.

Redline’s first Carolinas investment was Carnegie Point in Charlotte, which it bought in 2016 with ICM Asset Management. After purchase, the building was rebranded and underwent a complete building-wide renovation, including the addition of an indoor coffee bar and lounge and an outdoor, deck-style tenant lounge.

“Our approach to real estate starts with creating a differentiated product and then focuses on ensuring excellent tenant experiences. We approach the landlord-tenant relationship as one of partnership, and as a good partner we want to ensure we are providing substantial value,” Webb said.

Webb says the last 12 months have been the best year yet for the company. Despite the impact of the pandemic and related economic convulsions, Redline has experienced rent and occupancy growth throughout its portfolio, as well as asset sales at greater than pre-pandemic valuations.

“When many other office assets were losing tenants, we experienced 14.25% positive net absorption in our portfolio at or above our pre-COVID lease rates,” Webb said. “We’ve collected 100 percent of rents and sold three buildings above our original exit pricing assumptions.”

The firm has been hiring additional corporate staff over the last year as it has grown its portfolio. Now vertically integrated, Redline self-manages its properties in most markets and plans to self-manage all its assets in the future.

The company recently hired a Managing Director, Finance & Capital Markets. Carl Fowler oversees all aspects of Redline’s capital markets, accounting and finance activities.

“As our company continues to grow, having Carl on the team in this leadership role will be critical to our success,” said Redline principal and managing partner, Andrew Webb. “Carl is highly respected in the industry and his expertise, capital markets knowledge and significant relationships will be instrumental in propelling Redline forward.”

Carl Fowler has 17 years of commercial real estate experience, including investment management, debt and equity origination and asset management. Prior to Redline, he originated private debt and equity opportunities for NXT Capital throughout the Southeastern U.S. During his career, Fowler has worked on more than $1 billion of real estate lending and equity opportunities. He holds a bachelor of arts in Economics and French from Emory University and an MBA in Real Estate and Finance from the Wharton School at the University of Pennsylvania.

Fowler is a member of the Urban Land Institute and a board member of The Fugees Family, a charter school network serving the refugee community in multiple states.

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