{"id":1004343404,"date":"2019-08-01T11:54:16","date_gmt":"2019-08-01T19:54:16","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004343404"},"modified":"2019-08-02T05:14:46","modified_gmt":"2019-08-02T13:14:46","slug":"kkr-buys-atlanta-tower-in-205m-deal","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/kkr-buys-atlanta-tower-in-205m-deal\/","title":{"rendered":"KKR Buys Atlanta Tower in $205M Deal"},"content":{"rendered":"<div id=\"attachment_1004343623\" style=\"width: 250px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/08\/Salesforce-Tower-in-Atlanta.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004343623\" data-attachment-id=\"1004343623\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/kkr-buys-atlanta-tower-in-205m-deal\/salesforce-tower-in-atlanta\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/08\/Salesforce-Tower-in-Atlanta.jpg\" data-orig-size=\"640,800\" 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;0&quot;}\" data-image-title=\"Salesforce Tower in Atlanta\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Salesforce Tower &lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/08\/Salesforce-Tower-in-Atlanta.jpg?w=640\" class=\"wp-image-1004343623 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/08\/Salesforce-Tower-in-Atlanta.jpg\" alt=\"\" width=\"240\" height=\"300\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/08\/Salesforce-Tower-in-Atlanta.jpg 640w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/08\/Salesforce-Tower-in-Atlanta.jpg?resize=240,300 240w\" sizes=\"auto, (max-width: 240px) 100vw, 240px\" \/><\/a><p id=\"caption-attachment-1004343623\" class=\"wp-caption-text\">Salesforce Tower<\/p><\/div>\n<p>Global investment firm KKR has acquired a majority stake of Salesforce Tower in Atlanta, a 631,808-square-foot Class A office property in the city\u2019s Buckhead submarket. The company purchased the controlling interest in the office tower from Banyan Street Capital, which purchased the building in 2016 from CBRE Global Investors.<\/p>\n<p>KKR made the acquisition through its Real Estate Partners Americas Fund II. CBRE has been tapped to lease the tower, while Banyan Street Capital will manage the building. KKR and Banyan Street Capital plan to invest $5 million in capital improvements at the office property, including improvements to the fitness center, retail concourse, outdoor plaza, elevator landings and corridors.<\/p>\n<p>A CBRE team of Justin Parsonnet, Will Yowell, Jay O&#8217;Meara and Ryan Reethof led the marketing of Salesforce Tower on behalf of the seller. A CBRE Debt &amp; Structured Finance team of Jonathan Rice, Tom Traynor and C.J. Kelly arranged the financing for the buyer.<\/p>\n<hr>\n<p><strong>READ ALSO:<\/strong> <a href=\"https:\/\/www.commercialsearch.com\/news\/top-10-office-transactions-in-atlanta\/\">Top 10 Office Transactions in Atlanta<\/a><\/p>\n<hr>\n<p>Built in 1986, the 34-story office property\u2014also known as Atlanta Plaza\u2014recently underwent $14 million in upgrades and renovations. The tenant roster at the building includes software firm Salesforce as well as RentPath and Rubicon Global. Located at 950 East Paces Ferry Road NE, the property offers easy access to the Lenox Transit Station of the MARTA line, the T. Harvey Mathis Parkway and Interstate 85.<\/p>\n<p>Atlanta\u2019s office market <a href=\"https:\/\/www.commercialsearch.com\/news\/atlanta-office-report-spring-2019\/\">has experienced steady growth<\/a> over the last several months, fueled by companies looking to relocate or expand, according to a recent Yardi Matrix report. As of April 1, around 6 million square feet of office space was underway in the Georgia capital, with more than a third expected to deliver by the end of the year. In April, Columbia Property Trust <a href=\"https:\/\/www.commercialsearch.com\/news\/columbia-property-trust-sells-700-ksf-atlanta-campus-for-228m\/\">sold a 700,000-square-foot office asset<\/a> in the Atlanta area to Starwood Property Trust in a $227.5 million deal.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The global investment firm acquired the controlling interest in the office building from Banyan Street Capital, which has owned the property since 2016. <\/p>\n","protected":false},"author":745,"featured_media":1004343425,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1489,21743,21808,21783,21742,21747],"tags":[32943,32789,32883,33611],"class_list":["post-1004343404","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-atlanta","category-deals","category-featured","category-investment","category-latest","category-office","tag-banyan-street-capital","tag-cbre","tag-kkr","tag-salesforce"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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