Fetzer and Graham's real estate deal

shwineka — Fri, 25 Jan 2008 11:56:12 -0500

Tom Fetzer may not work for Bill Graham anymore, but they're still in real estate together.

The Republican political consultant and his former client, who is running for the GOP nomination for governor, co-own a building in downtown Raleigh.

Fetzer and Graham bought the two-story brick building at 709 Hillsborough St. on March 31, 2006, for $1.2 million, according to Wake County property records. At the time, Fetzer was advising Graham's campaign to cap the state gas tax.

The Fetzer-Stephens consulting firm is now located in the building, which was built in 1875.

The building was bought with two loans: $1 million to Fetzer and Graham from SunTrust in Cary and $250,000 to Fetzer by the Community Bank of Rowan, where Graham serves on the board of directors.

Graham spokesman Aaron Lay said that Graham does not own the building, however. He said Graham co-signed the loan in the same way that parents of a teen-ager might co-sign for a car loan.

Other than that, he declined to add details.

"I won't get into a business or personal matter," he said. "That's aside from the campaign."

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Fetzer and Graham's real estate deal