In a filing with the US Security and Exchange Commission, Hines reported that an indirect subsidiary of Hines-Sumisei US Core Office Fund LP acquired the building at 1201 W. Peachtree St. The acquisition was financed with borrowings under a revolving credit facility with KeyBank National Association and a $168.5-million mortgage loan obtained from the Prudential Life Insurance Co. of America. The loan has a fixed interest rate of 6.1% and a 10-year term.

The fund was established in August 2003 by Hines Interests Limited Partnership to invest in existing office properties in the US that the company believes are desirable long-term core holdings. "The fund indirectly holds interest in a portfolio of 13 office properties. As of July 3, Hines REIT, through its operating partnership Hines REIT Properties, LP owned a 29.25% non-managing general partner interest in the core fund," the report states.

One Atlantic Center consists of 1.1 million sf and is currently 81% leased. The building's two largest tenants are law firms. Alston & Bird LLP leases 231,563 sf, or approximately 21% of the building's space, under a lease that expires in October 2013. Powell Goldstein LLP currently leases 219,131 sf, or approximately 20% of the building, under a lease that expires in May 2019. Hines will serve as property manager and will provide leasing, operation and management services, according to the SEC report.