CHARLOTTE — The EpiCentre entertainment complex in uptown Charlotte is now officially owned by lender Deutsche Bank Trust Company Americas, according to our partners at The Charlotte Observer.
The company’s $95 million bid was the only bid at the Aug. 9 live foreclosure auction sale. There were no other bidders during the 10-day upset bid period that closed Friday at the Mecklenburg County Courthouse.
The entertainment complex opened 14 years ago during the economic recession and became a hot spot for entertainment, drawing in people to the many bars and restaurants.
In December 2021, Deutsche Bank Trust Co. announced that it was foreclosing on Charlotte’s EpiCentre by spring. The announcement brought an end to a court-ordered receivership imposed in August as the uptown property’s owner worked to resolve a default on an $85 million loan.
No one, including EpiCentre owners, objected to the foreclosure.
The foreclosure proceedings started in March, but the sale of the mixed-use center was delayed twice, on May 12 and July 26.
While the EpiCentre was a hub of an entertainment, problems started to arise.
Before the foreclosure, several businesses were evicted from the EpiCentre, starting in January 2020.
There was also an increase of violence in the area. There was even a high-profile murder outside the building where a woman was roofied at a nightclub, prompting state law changes.
At one point, CMPD said it responded to more violent crime at the EpiCentre than any other place in Charlotte, according to the Charlotte Observer.
(WATCH BELOW: EpiCentre to likely remain with current lender after no higher bid offered)
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