• 02/11/2020

Charlotte, N.C. – (February 11, 2020) – Crescent Communities, a nationally-recognized, market-leading real estate investor, developer, and operator of mixed-use communities, today announced that Ally Financial will lease the remaining office space of Ally Charlotte Center. Ally had previously announced in September 2017 that it had entered into a lease agreement for the majority of the new office building currently under construction at 601 S. Tryon St in Charlotte, North Carolina.

Ally Charlotte Center is centrally located in Uptown Charlotte and will provide Ally’s teammates with a modern and collaborative work environment. The mixed-use tower will also include dynamic retail and restaurant space on the ground level, adding to the energy of the surrounding neighborhood.

“We are pleased with Ally’s decision to consolidate its Charlotte team to Ally Charlotte Center,” said Brendan Pierce, Senior Managing Director of Crescent Communities. “We are equally excited to share an office building with them in our newest commercial community. Building community is at the core of our company’s mission, and we are delighted to do just that through our collaboration with Ally Financial at this new center of Uptown at the corner of Stonewall and South Tryon Street.”

Ally Charlotte Center includes over 725,000 square feet of office space, approximately 30,000 square feet of ground level retail, a 12,000 square foot public plaza, and a 1,436-space parking garage – all designed to provide a new and thriving community space in the heart of Charlotte's cultural and commerce district. The full city block bridges the gap between Uptown and the South End Historic District, which is home to many residential developments, breweries, art galleries, and other amenities.

The surrounding Stonewall Street corridor is undergoing a massive transformation into a tree-lined boulevard with an energetic mix of office, retail, residential, and hotel spaces. Ten unique projects are planned or under construction—bringing new office space, 378,000 square feet of retail space, including Whole Foods Market at NOVEL Stonewall Station (also developed by Crescent Communities), 850 hotel rooms, and more than 2,600 residential units to the area, ultimately representing over $2.7 billion in private investment.

“We are excited to announce the agreement to lease additional space and have been pleased to see our vision for a collaborative work space take hold with the progress that has been made toward completion of Ally Charlotte Center,” said Alison Summerville, Ally’s Business Administration Executive. “We look forward to consolidating our Charlotte-area teammates in a state-of-the-art facility strategically located at the center of the city with access to a broad range of amenities.”

Ally Charlotte Center also includes a 22-story, 381-key JW Marriott developed by White Lodging, which is slated to open in Spring 2021. Approximately 30,000 square feet of retail and restaurant space are still available at Ally Charlotte Center, which will be managed by Asana Partners.

Charley Leavitt and Barry Fabyan with JLL represented the landlord, while Chase Monroe and Chris Shaff with JLL represented Ally Financial.

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About Crescent Communities:

Crescent Communities is a nationally recognized, market-leading real estate investor, developer and operator of mixed-use communities. We create high-quality, differentiated multifamily and commercial communities in many of the fastest growing markets in the United States. Since 1963, our development portfolio has included more than 59 multifamily communities, 21 million square feet of commercial space and 60 single family master-planned communities. Headquartered in Charlotte, Crescent Communities has regional offices in Washington, DC, Atlanta, Orlando, Nashville, Dallas, and Denver. Our multifamily communities are branded NOVEL by Crescent Communities.

About Ally Financial Inc.

Ally Financial Inc. (NYSE: ALLY) is a leading digital financial-services company with $180.6 billion in assets as of December 31, 2019. As a customer-centric company with passionate customer service and innovative financial solutions, we are relentlessly focused on "Doing it Right" and being a trusted financial-services provider to our consumer, commercial, and corporate customers. We are one of the largest full-service automotive-finance operations in the country and offer a wide range of financial services and insurance products to automotive dealerships and consumers. Our award-winning online bank (Ally Bank, Member FDIC and Equal Housing Lender) offers mortgage-lending services and a variety of deposit and other banking products, including savings, money-market, and checking accounts, certificates of deposit (CDs), and individual retirement accounts (IRAs). Additionally, we offer securities-brokerage and investment-advisory services through Ally Invest. Our robust corporate finance business offers capital for equity sponsors and middle-market companies.

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