{"id":1004200573,"date":"2017-12-15T05:33:46","date_gmt":"2017-12-15T13:33:46","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004200573"},"modified":"2022-12-08T17:48:40","modified_gmt":"2022-12-09T01:48:40","slug":"apg-acquires-22m-atlanta-office-park","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/apg-acquires-22m-atlanta-office-park\/","title":{"rendered":"APG Acquires $22M Atlanta Office Park"},"content":{"rendered":"<p>By IvyLee Rosario<\/p>\n<div id=\"attachment_1004200710\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/Shadowood-Office-Park.jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004200710\" data-attachment-id=\"1004200710\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/apg-acquires-22m-atlanta-office-park\/shadowood-office-park\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/Shadowood-Office-Park.jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" 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;1&quot;}\" data-image-title=\"Shadowood Office Park\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Shadowood Office Park&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/Shadowood-Office-Park.jpg?w=800\" class=\"wp-image-1004200710 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/Shadowood-Office-Park.jpg\" alt=\"Shadowood Office Park\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/Shadowood-Office-Park.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/Shadowood-Office-Park.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/Shadowood-Office-Park.jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004200710\" class=\"wp-caption-text\">Shadowood Office Park<\/p><\/div>\n<p>Atlanta Property Group has acquired Shadowood Office Park in Atlanta&#8217;s Cumberland\/Galleria submarket. According to Yardi Matrix, APG purchased the asset from The Ardent Cos. for $22.3 million. The sale was subject to a $19 million loan held by SunTrust Bank. APG has plans for a multi-million-dollar renovation during its first year of ownership.<\/p>\n<p>The 200,000-square-foot property comprises three adjacent office buildings and a 475-space parking deck. Located at 2100 Powers Ferry Road, the four-story buildings feature nine-foot ceilings, common area Wi-Fi and full-height windows, as well as access to 777 parking spaces and 1,134 square feet of retail. The property is currently 78 percent leased to tenants such as InvenTrust Properties, Hammond Residential Group, Manhattan Construction Group, Shadowood Cafe and TETRA Technologies.<\/p>\n<p><em>\u201cWe acquired the property at an attractive basis and the investment presents compelling risk-adjusted returns,\u201d<\/em> said Shep Dinos, a partner with APG, in prepared remarks. <em>\u201cIn today\u2019s market, a significant amount of equity is focused exclusively on institutional-sized office investments; however, there are relatively few well-capitalized buyers pursuing middle-market office buildings, creating appealing opportunities for our platform.\u201d<\/em><\/p>\n<p>Kevin Markwordt of Transwestern represented the seller in the transaction. In July,\u00a0Atlanta Property Group purchased a seven-building, <a href=\"https:\/\/www.commercialsearch.com\/news\/atlanta-property-group-nabs-1-3-msf-office-portfolio\/\">Class A office portfolio<\/a> totaling nearly 1.3 million square feet across Florida,\u00a0the Carolinas and Pennsylvania.\u00a0<\/p>\n<p><em>Image courtesy of Yardi Matrix<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The company purchased Shadowood Office Park from The Ardent Cos. The sale was subject to a $19 million loan held by SunTrust Bank. <\/p>\n","protected":false},"author":746,"featured_media":1004200710,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1489,21743,21742,21747],"tags":[35595,34336,33313],"class_list":["post-1004200573","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-atlanta","category-deals","category-latest","category-office","tag-atlanta-property-group","tag-suntrust-bank","tag-transwestern"],"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>APG Acquires $22M Atlanta Office Park - 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\/apg-acquires-22m-atlanta-office-park\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"APG Acquires $22M Atlanta Office Park\" \/>\n<meta property=\"og:description\" content=\"The company purchased Shadowood Office Park from The Ardent Cos. The sale was subject to a $19 million loan held by SunTrust Bank.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/apg-acquires-22m-atlanta-office-park\/\" \/>\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=\"2017-12-15T13:33:46+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T01:48:40+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/Shadowood-Office-Park.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"IvyLee Rosario\" \/>\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\/apg-acquires-22m-atlanta-office-park\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/apg-acquires-22m-atlanta-office-park\/\",\"name\":\"APG Acquires $22M Atlanta Office Park - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/apg-acquires-22m-atlanta-office-park\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/apg-acquires-22m-atlanta-office-park\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/Shadowood-Office-Park.jpg\",\"datePublished\":\"2017-12-15T13:33:46+00:00\",\"dateModified\":\"2022-12-09T01:48:40+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/f2094ece0e063845f848c7f1c7b84780\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/apg-acquires-22m-atlanta-office-park\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/apg-acquires-22m-atlanta-office-park\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/apg-acquires-22m-atlanta-office-park\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/Shadowood-Office-Park.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/Shadowood-Office-Park.jpg\",\"width\":800,\"height\":620,\"caption\":\"Shadowood Office Park\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/apg-acquires-22m-atlanta-office-park\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"APG Acquires $22M Atlanta Office Park\"}]},{\"@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\/f2094ece0e063845f848c7f1c7b84780\",\"name\":\"IvyLee Rosario\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/05\/IvyLee_Rosario.jpg?w=67\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/05\/IvyLee_Rosario.jpg?w=67\",\"caption\":\"IvyLee Rosario\"},\"description\":\"IvyLee Rosario is a Senior Associate Editor for Commercial Property Executive and Multi-Housing News. 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