Hornets got a steal on the ex-Epicentre

Why it matters: That's significantly lower than its appraised value of $97.8 million, according to Mecklenburg County records.

• Deutsche Bank previously bought the 302,324-square-foot building in 2022 with a sole bid of $95 million after the former owner, CIM Group of Los Angeles, defaulted on an $85 million loan with the bank.

• CIM Group bought the building for $130.5 million in 2014.

Catch up quick: Hornets Sports & Entertainment, Lincoln Property Company and Vision Ventures say they plan to revitalize Queen City Quarter, aka the Epicentre. The Hornets have long envisioned an entertainment district around Spectrum Center in Uptown, and this could be a key piece.

• The Hornets are not commenting further on any specific plans or timeline.