Former CNN Center Obtains $56M in C-PACE Financing

CP Group has obtained $56.4 million in C-PACE financing to support the redevelopment of the former CNN Center in downtown Atlanta. Peachtree Group originated the financing.

The property is now called The CTR, or “The Center”. The redevelopment includes the revitalization of its expansive retail atrium, the installation of large-scale digital media displays and the modernization of building systems.

C-PACE financing is being used to fund eligible improvements focusing on energy consumption. These include HVAC systems, glazing, lighting and plumbing infrastructure, among other related project costs.

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The CTR is adjacent to Centennial Olympic Park and near other downtown Atlanta landmarks, such as the Georgia Aquarium, Mercedes-Benz Stadium and the Georgia World Congress Center. The property was originally developed as the Omni Complex in 1976 by Cousins Properties.

CP Group, formerly known as Crocker Partners, acquired the property in partnership with Rialto Capital Management for $95.8 million in 2021, a year after the cable news organization announced plans to leave the site. The deal made CP Group the second-largest office landlord in Georgia.

C-PACE picks up steam

C-PACE deal volume came in at $3.5 billion in 2025, up from $2.5 billion in 2024, according to the C-PACE Alliance. The sector has seen some large financing deals in the past year.

In January, Post Brothers closed on $575 million in funding for The Geneva, an office-to-residential project in Washington, D.C. The package includes $465 million in C-PACE financing, making it the largest C-PACE deal anywhere thus far.

That same month, Brandywine Realty Trust secured $87.3 million in C-PACE financing for 3151 Market Street, a recently completed 495,000-square-foot building with lab, office and retail space in Philadelphia’s University City submarket. The deal represented the largest C-PACE financing in Pennsylvania history and the first for a publicly traded REIT. Nuveen Green Capital originated the financing.

In May, Plamondon Hospitality Partners secured $43 million in C-PACE financing for the development of the Marriott Downtown Frederick at Carroll Creek, a 204-key hotel and conference center in downtown Frederick, Md. Nuveen Green Capital also originated this financing, the largest in Maryland history.