Buchanan Street Partners Originates $95 Million Loan on Atlanta Office Complex
(firmenpresse) - ATLANTA, GA and NEWPORT BEACH, CA -- (Marketwired) -- 10/31/13 -- Buchanan Street Partners announces the financing of Peachtree Pointe, a 472,000-square-foot Class-A property in Atlanta's Midtown submarket. The mixed-use project, which includes the global headquarters for Invesco, includes two office towers and a retail component, Gallery Uptown. The property is owned by Dewberry Capital of Atlanta.
Buchanan Street arranged a floating rate debt structure that consolidated maturing debt from various lenders and enabled additional capital for leasing costs. Buchanan Street utilized Wells Fargo to finance a $63 million senior tranche of the first mortgage, and retained the senior mezzanine piece of $24.5 million for its own account. Terra Capital funded the remaining $7.5 million in a junior mezzanine participation loan.
"The high quality asset, including the credit strength of Invesco as the major tenant, and the multiple property aspect of the portfolio all contributed to make this a well-collateralized investment," said Mike Hurst, senior director of investments at Buchanan Street Partners. "The property is located in one of Atlanta's best submarkets, with a sponsor in Dewberry Capital that is well-regarded within the Midtown market sector."
Buchanan Street Partners is an institutional real estate investment management firm based in Newport Beach, Calif. that invests in value-add real estate assets through both equity and debt investment strategies.
Image Available:
Contact:
Kira Sarkisian | Randy Hall
714-263-8729 | 714-263-8723
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 31.10.2013 - 13:30 Uhr
Sprache: Deutsch
News-ID 1278268
Anzahl Zeichen: 0
contact information:
Contact person:
Town:
ATLANTA, GA and NEWPORT BEACH, CA
Phone:
Kategorie:
Commercial Real Estate
Anmerkungen:
Diese Pressemitteilung wurde bisher 198 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Buchanan Street Partners Originates $95 Million Loan on Atlanta Office Complex
"
steht unter der journalistisch-redaktionellen Verantwortung von
Buchanan Street Partners (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
