{"id":1004149199,"date":"2016-08-01T22:19:33","date_gmt":"2016-08-02T06:19:33","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004149199"},"modified":"2022-03-04T20:52:42","modified_gmt":"2022-03-05T04:52:42","slug":"local-investor-saves-historic-atlanta-office-building","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/local-investor-saves-historic-atlanta-office-building\/","title":{"rendered":"Local Investor &#8216;Saves&#8217; Historic Atlanta Office Building"},"content":{"rendered":"<p>By<em> Robert Demeter<\/em><\/p>\n<div id=\"attachment_1004149201\" style=\"width: 299px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/08\/6972.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004149201\" data-attachment-id=\"1004149201\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/local-investor-saves-historic-atlanta-office-building\/attachment\/6972\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/08\/6972.jpg\" data-orig-size=\"640,512\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"10 Park Place\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;10 Park Place&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/08\/6972.jpg?w=640\" class=\"wp-image-1004149201\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/08\/6972.jpg\" alt=\"10 Park Place\" width=\"289\" height=\"231\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/08\/6972.jpg 640w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/08\/6972.jpg?resize=300,240 300w\" sizes=\"auto, (max-width: 289px) 100vw, 289px\" \/><\/a><p id=\"caption-attachment-1004149201\" class=\"wp-caption-text\"><em>10 Park Place<\/em><\/p><\/div>\n<p><strong>Atlanta<\/strong>\u2014Lincoln Southeast LLC has recently facilitated the transfer\u00a0of 10 Park Place, a 137,681-square-foot office building located in downtown Atlanta. Lincoln\u2019s primary duty was to secure the property, prevent waste, collect rent, and utilize its service platform to create value for the collateral property.<\/p>\n<p>Through its role as receiver, as appointed by the courts, Lincoln helped devise and execute an exit strategy for the special servicer, <a href=\"https:\/\/www.situs.com\/\" target=\"_blank\" rel=\"nofollow noopener\">Situs Holdings LLC<\/a>, and the bondholders. The property\u2019s current ownership, led by <a href=\"https:\/\/novaregroup.com\/\" target=\"_blank\" rel=\"nofollow noopener\">The Novare Group<\/a>, executed a payoff of the current loan and recapitalized the project by bringing in new equity consisting of various local Atlanta investors.\u00a010 Park Place was 45 percent leased at the time of the deal.<\/p>\n<p>\u201cThis transaction adds to the growing list of exciting news coming from the downtown area,\u201d said Chip Sipple of Lincoln. \u201cGeorgia State University and Grady Memorial Hospital continue to expand their presence in the area and downtown, as a whole, is improving. Our goal with this property was to protect and maximize the value of the asset by aggressively marketing the property for lease and for sale. These actions helped produce the necessary ingredients to motivate a transaction and we believe that both the borrower and lender benefited from the transaction.\u201d<\/p>\n<p>10 Park Place, built in 1932, is a mid-rise property\u00a0located a block from the &#8220;Five Points&#8221; intersection in downtown Atlanta and is adjacent to Woodruff Park, Georgia State University and Grady Memorial Hospital.<\/p>\n<p>The building features 121,754 square feet of office space and includes 17,000 square feet of retail and 465 parking spaces. According to <a href=\"https:\/\/www.yardimatrix.com\/\" target=\"_blank\" rel=\"nofollow noopener\">Yardi Matrix<\/a>, tenants include Georgia Power, Georgia Vocational Rehabilitation Agency, Subway and Weekday Caf\u00e9, among others. 10 Park Place is currently managed by <a href=\"https:\/\/www.naibg.com\/\" target=\"_blank\" rel=\"nofollow noopener\">NAI Brannen Goddard<\/a>.<\/p>\n<p>Roughly\u00a0$3 million in capital improvements is planned for the historic building.<\/p>\n<p><em>Photo courtesy of Yardi Matrix<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Lincoln Southeast has saved the office building at 10 Park Place from receivership.<\/p>\n","protected":false},"author":59,"featured_media":1004149201,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1489,21743,21742,21747],"tags":[],"class_list":["post-1004149199","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-atlanta","category-deals","category-latest","category-office"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Local Investor &#039;Saves&#039; Historic Atlanta Office Building - 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\/local-investor-saves-historic-atlanta-office-building\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Local Investor &#039;Saves&#039; Historic Atlanta Office Building\" \/>\n<meta property=\"og:description\" content=\"Lincoln Southeast has saved the office building at 10 Park Place from receivership.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/local-investor-saves-historic-atlanta-office-building\/\" \/>\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=\"2016-08-02T06:19:33+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-03-05T04:52:42+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/08\/6972.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"640\" \/>\n\t<meta property=\"og:image:height\" content=\"512\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Robert Demeter\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\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\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/local-investor-saves-historic-atlanta-office-building\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/local-investor-saves-historic-atlanta-office-building\/\",\"name\":\"Local Investor 'Saves' Historic Atlanta Office Building - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/local-investor-saves-historic-atlanta-office-building\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/local-investor-saves-historic-atlanta-office-building\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/08\/6972.jpg\",\"datePublished\":\"2016-08-02T06:19:33+00:00\",\"dateModified\":\"2022-03-05T04:52:42+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/1b890baecdbd25af52e3a730ac8cff6f\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/local-investor-saves-historic-atlanta-office-building\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/local-investor-saves-historic-atlanta-office-building\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/local-investor-saves-historic-atlanta-office-building\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/08\/6972.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/08\/6972.jpg\",\"width\":640,\"height\":512,\"caption\":\"10 Park Place\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/local-investor-saves-historic-atlanta-office-building\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Local Investor &#8216;Saves&#8217; 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He previously worked as a copywriter at PropertyShark, as a senior associate editor at Commercial Property Executive and Multi-Housing News, and also wrote monthly market reports at Yardi Matrix.\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/robert-demeter-2\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Local Investor 'Saves' Historic Atlanta Office Building - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/local-investor-saves-historic-atlanta-office-building\/","og_locale":"en_US","og_type":"article","og_title":"Local Investor 'Saves' Historic Atlanta Office Building","og_description":"Lincoln Southeast has saved the office building at 10 Park Place from receivership.","og_url":"https:\/\/www.commercialsearch.com\/news\/local-investor-saves-historic-atlanta-office-building\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2016-08-02T06:19:33+00:00","article_modified_time":"2022-03-05T04:52:42+00:00","og_image":[{"width":640,"height":512,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/08\/6972.jpg","type":"image\/jpeg"}],"author":"Robert Demeter","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/local-investor-saves-historic-atlanta-office-building\/","url":"https:\/\/www.commercialsearch.com\/news\/local-investor-saves-historic-atlanta-office-building\/","name":"Local Investor 'Saves' Historic Atlanta Office Building - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/local-investor-saves-historic-atlanta-office-building\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/local-investor-saves-historic-atlanta-office-building\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/08\/6972.jpg","datePublished":"2016-08-02T06:19:33+00:00","dateModified":"2022-03-05T04:52:42+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/1b890baecdbd25af52e3a730ac8cff6f"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/local-investor-saves-historic-atlanta-office-building\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/local-investor-saves-historic-atlanta-office-building\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/local-investor-saves-historic-atlanta-office-building\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/08\/6972.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/08\/6972.jpg","width":640,"height":512,"caption":"10 Park Place"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/local-investor-saves-historic-atlanta-office-building\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Local Investor &#8216;Saves&#8217; Historic Atlanta Office Building"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/1b890baecdbd25af52e3a730ac8cff6f","name":"Robert Demeter","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/f2e4ddc660cf0d4243b4032a150ba1b9a1933224e3dacd59315bee8b1869a756?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/f2e4ddc660cf0d4243b4032a150ba1b9a1933224e3dacd59315bee8b1869a756?s=96&d=mm&r=g","caption":"Robert Demeter"},"description":"Robert is a copywriter at CommercialCafe and brings 3+ years of experience in commercial real estate. 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