Charlotte’s epicenter was foreclosed after multiple missed loan payments

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CHARLOTTE, North Carolina (WTVD) – The epicenter of Charlotte’s residential area, formerly a popular nightlife and dining destination, will now be foreclosed.

In the report Affiliated with ABC WSOCThe California company that owns the attraction missed months of paying off its $ 85 million mortgage loan. The bank is now asking the judge to appoint a receiver in charge of collecting rent directly from epicenter tenants, while the bank is seeking foreclosure.

“If they succeed, the clerk’s office will issue an order allowing them to auction the property on the steps of the courthouse,” said bankruptcy attorney Heather Culp. “At the same time, what are they asking the judge. here you need to appoint a receiver, who in the meantime will intervene and collect the rent from the tenants. “

Culp said the process of appointing a recipient to collect rent payments could be quick, but the actual foreclosure could take up to 75 days.

Since January 2020, 10 businesses have been evicted – at least five evictions were carried out due to non-payment.

WSOC attempted to contact CIM Group, the owner of the epicenter, but received no comment.

In recent years, the owners of the Charlotte hotspot have faced a lawsuit over the murder of a scientist, doctor and businessman who was hit by a stray bullet while visiting the area from Maryland.

“I don’t think it can be more of a mixed use place with bars, restaurants and retail to coexist,” said Charlotte City Councilor Tariq Bockarie. “There were so many problems, from homicide to crime, that kept people away from doing business that I think it needs to be rethought.”

Bockarie described the disgraced hotspot as “a slow-moving train wreck” and said he believed it needed repairs.

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