{"id":1004108083,"date":"2014-11-24T10:01:43","date_gmt":"2014-11-24T18:01:43","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004108083"},"modified":"2022-12-06T04:38:12","modified_gmt":"2022-12-06T12:38:12","slug":"pointone-grabs-377-ksf-office-portfolio-in-birmingham","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/pointone-grabs-377-ksf-office-portfolio-in-birmingham\/","title":{"rendered":"PointOne Grabs 377 KSF Office Portfolio in Birmingham"},"content":{"rendered":"
\"1800<\/a>

1800 International Park<\/p><\/div>\n

By Anna Spiewak, Senior News Editor<\/em><\/p>\n

A joint venture between \u00a0PointOne Holdings and ESJ Partners has bought a 377,921-square-foot office portfolio in one of Birmingham’s most desired submarkets, for $51 million, or $125 per square foot.<\/p>\n

The three buildings, 1800 and 1900 International Park, and Blue Lake Center have a total occupancy of 90 percent with access to Interstate 459, connecting Birmingham’s business district with affluent suburban areas. The office buildings are also less than a mile away from the $300-million Trinity Medical Center,\u00a0The Summit Mall and Shoppes of Colonnade, according to a news release.<\/p>\n

What appealed most to Hollywood, Fla.-based PointOne Holdings about the properties was ” the opportunity to acquire extremely high-quality assets at favorable pricing, in a dynamic marketplace, with a strong yet diversified rent\u00a0roll,” David Garfinkle, PointOne’s managing member told Commercial Property Executive<\/em>. “We are satisfied with the purchase price and see significant opportunity for additional growth via future new leases, leasing expansions and lease-term extensions,” he added in the news release.<\/p>\n

\"Blue<\/a>

Blue Lake Center<\/p><\/div>\n

Some of the buildings’ main tenants include: Tyco, Prudential, Hoffman Media, Command Alkon, BE&K, Martin Marietta Materials, Principal Financial, RxBenefits, EBSCO, BASS, McKesson Corp., Home Mortgage of America and IBM.<\/p>\n

CBRE’s Birmingham \u00a0office will manage the proprties.\u00a0PointOne Holdings \u00a0received a non-recourse, CMBS loan at a fixed rate with a 10-year term from Starwood Mortgage Capital to finalize the purchase. The company was advised by Charles Foschini and Jason Hochman of CBRE Capital Markets.<\/p>\n

With offices in Atlanta and South Florida, PointOne Holdings is a\u00a0private real estate investment company focused primarily on the acquisition, renovation and management of value-add, income producing and distressed residential and commercial real estate in the Southeastern U.S.\u00a0The company presently owns and manages a diversified portfolio of residential, commercial and hospitality assets with a value of more than\u00a0$150 million.<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

A joint venture between PointOne Holdings and ESJ Partners has bought a 377,9321-square-foot office portfolio in one of Bingham’s most desired submarkets, for $51 million.<\/p>\n","protected":false},"author":952,"featured_media":1004108093,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21783,21742,21747],"tags":[],"class_list":["post-1004108083","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-latest","category-office"],"acf":[],"yoast_head":"\nPointOne Grabs 377 KSF Office Portfolio in Birmingham - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/pointone-grabs-377-ksf-office-portfolio-in-birmingham\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"PointOne Grabs 377 KSF Office Portfolio in Birmingham\" \/>\n<meta property=\"og:description\" content=\"A joint venture between PointOne Holdings and ESJ Partners has bought a 377,9321-square-foot office portfolio in one of Bingham's most desired submarkets, for $51 million.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/pointone-grabs-377-ksf-office-portfolio-in-birmingham\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2014-11-24T18:01:43+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-06T12:38:12+00:00\" \/>\n<meta name=\"author\" content=\"Anna Spiewak\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/11\/1800-IP-2.jpg\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/pointone-grabs-377-ksf-office-portfolio-in-birmingham\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/pointone-grabs-377-ksf-office-portfolio-in-birmingham\\\/\"},\"author\":{\"name\":\"Anna Spiewak\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/1bbb99675c2609ea2e6792f8b25d7b76\"},\"headline\":\"PointOne Grabs 377 KSF Office Portfolio in Birmingham\",\"datePublished\":\"2014-11-24T18:01:43+00:00\",\"dateModified\":\"2022-12-06T12:38:12+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/pointone-grabs-377-ksf-office-portfolio-in-birmingham\\\/\"},\"wordCount\":331,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/pointone-grabs-377-ksf-office-portfolio-in-birmingham\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2014\\\/11\\\/1800-IP-2.jpg\",\"articleSection\":[\"Investment\",\"News\",\"Office\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/pointone-grabs-377-ksf-office-portfolio-in-birmingham\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/pointone-grabs-377-ksf-office-portfolio-in-birmingham\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/pointone-grabs-377-ksf-office-portfolio-in-birmingham\\\/\",\"name\":\"PointOne Grabs 377 KSF Office Portfolio in Birmingham - 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