Quarter Circle Takes Two Assets for $22M

ATLANTA-Omaha-based Quarter Circle Capital has acquired two properties for $22 million on behalf of the company’s recently formed fund, QCC Fund I, LP.

QC Capital focuses on acquiring non-core and/or problem assets or loans from owners or lenders ranging from $5 to $25 million in value. “Both of these transactions fit within our fund’s investment criteria,” QC Capital CEO James Puckett says in a statement.

One of the properties acquired was One West Court Square, a 158,000-sf office and retail building in Decatur. QC Capital acquired the defaulted mortgage note on the property and negotiated a deed in lieu of foreclosure with the borrower. The note was acquired from the mortgage note’s special servicing agent for $16.7 million in an all-cash transaction. The building is 23% occupied, with plans to lease the vacant space.