{"id":1004186987,"date":"2017-08-15T14:41:00","date_gmt":"2017-08-15T22:41:00","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004186987"},"modified":"2022-12-08T19:18:04","modified_gmt":"2022-12-09T03:18:04","slug":"walker-dunlop-secures-59m-for-atlanta-asset","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/walker-dunlop-secures-59m-for-atlanta-asset\/","title":{"rendered":"Walker &amp; Dunlop Secures $59M for Atlanta Asset"},"content":{"rendered":"<p>By IvyLee Rosario<\/p>\n<div id=\"attachment_1004186988\" style=\"width: 341px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/08\/Newmarket-Business-Park.jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004186988\" data-attachment-id=\"1004186988\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/walker-dunlop-secures-59m-for-atlanta-asset\/newmarket-business-park\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/08\/Newmarket-Business-Park.jpg\" data-orig-size=\"400,310\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;IvyLee Rosario&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1502713144&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;1&quot;}\" data-image-title=\"Newmarket Business Park\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Newmarket Business Park&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/08\/Newmarket-Business-Park.jpg?w=400\" class=\"wp-image-1004186988 \" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/08\/Newmarket-Business-Park.jpg\" alt=\"Newmarket Business Park\" width=\"331\" height=\"257\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/08\/Newmarket-Business-Park.jpg 400w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/08\/Newmarket-Business-Park.jpg?resize=300,233 300w\" sizes=\"auto, (max-width: 331px) 100vw, 331px\" \/><\/a><p id=\"caption-attachment-1004186988\" class=\"wp-caption-text\">Newmarket Business Park<\/p><\/div>\n<p>Walker &amp; Dunlop closed $59 million in bridge and equity financing on behalf of Praelium Commercial Real Estate and South Street Partners for the acquisition of Newmarket Business Park in Marietta, Ga.\u00a0<\/p>\n<p>The debt was placed by a debt fund and arranged as a floating rate bridge loan with full-term interest-only payments. A hedge fund invested the equity.\u00a0<\/p>\n<h2>Attractive Location<\/h2>\n<p>The 471,486-square-foot, Class B office asset consists of four single-story and two two-story office buildings. Constructed between 1983 and 1985, the property was 85 percent leased at closing. Located three quarters of a mile from Interstate 75, Newmarket Business Park is surrounded by large corporate headquarters, including Home Depot, Printpack, Race Trac Petroleum, Genuine Parks and HD Supply.\u00a0<\/p>\n<p>Mark Strauss and Rob Quarton of Walker &amp; Dunlop&#8217;s Irvine, Calif.-based team represented the two sponsors.\u00a0<\/p>\n<p><em> \u201cThe equity investor was attracted to the opportunity because of the potential to either create excellent cashflow during the ownership period and or provide cap rate compression benefits due to the credit quality of the lease on a potential future sale,\u201d\u00a0<\/em>said Quarton, in prepared remarks.<\/p>\n<p>Recently, Walker &amp; Dunlop arranged $218 million in construction financing for the development of <a href=\"https:\/\/www.commercialsearch.com\/news\/new-disney-resort-scores-218m-in-construction-financing\/\">JW Marriott Bonnet Creek<\/a>, in Orlando\u2019s Walt Disney World.<\/p>\n<p><em>Image courtesy of Walker &amp; Dunlop<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Praelium Commercial Real Estate and South Street Partners needed the financing in order to acquire Newmarket Business Park, a 471,486-square-foot office property in Marietta, Ga. <\/p>\n","protected":false},"author":746,"featured_media":1004186988,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1489,21743,21825,21742,21747],"tags":[37223,37222,34573],"class_list":["post-1004186987","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-atlanta","category-deals","category-finance","category-latest","category-office","tag-mark-strauss","tag-south-street-partners","tag-walker-and-dunlop"],"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>Walker &amp; 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She has a background in Journalism and joined the team in 2016. She produces the MHN Daily newsletter, manages byline content, oversees the Research Center for both brands and hosts the Multifamily's Top Marketers podcast. 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