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Buchanan Street Partners Arranges $95M Financing for Peachtree Pointe

By Balazs Szekely, Associate Editor

Buchanan Street Partners has effectuated a $95 million loan on the Peachtree Point office complex in Atlanta office.

Peachtree Pointe, located at 1555 Peachtree St NE, is a 472,000-square-foot Class-A mixed-use property and is owned by Dewberry Capital of Atlanta. Built in 1999 and expanded in 2008, which tripled its square footage, the complex is now home to Gallery Uptown, a 19,000-square foot boutique retail center and the global headquarters of leading businesses such as Invesco Ltd. and Hirsch Bedner Associates and features an array of amenities including award-winning restaurants, retail boutiques, a fitness center, spa, art gallery and theatre.

Newport Beach, Calif.-based Buchanan Street Partners is a real estate investment management firm that invests in value-add real estate assets through both equity and debt investment strategies. The company arranged a variable interest rate debt structure that consolidated maturing debt from various lenders and enabled additional capital for leasing costs. The investment management firm utilized Wells Fargo to finance a $63 million senior tranche of the first mortgage, and retained the senior mezzanine piece of $24.5 million for its own account. Terra Capital funded the remaining $7.5 million in a junior mezzanine participation loan.

Mike Hurst, senior director of investments at Buchanan Street Partners considers the loan a “well-collateralized investment,” adding that the credit strength of the anchor tenant and the mixed character of the portfolio make it so reliable.

“The property is located in one of Atlanta’s best submarkets, with a sponsor in Dewberry Capital that is well-regarded within the Midtown market sector,” says Hurst.

Photo credits: Drewberry Capital