Chapel Hill Police have arrested 25-year-old Charles Anthony Rhames in connection with a fatal stabbing on Franklin Street Friday night.

Police have identified the victim as 27-year-old Walter Arthur Preston.

The incident occurred at 11:45 in the area of 209 East Franklin Street.

Police say Rhames was arrested without incident in the vicinity of 400 Jones Ferry Road in Carrboro.

Authorities say Rhames is being held without bond in the Orange County Jail on a first-degree murder charge.