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Carter Arranges All-Cash Deal for Buildings

ATLANTA-The three-building, 96,000-sf transaction bypasses tightening capital markets.

By Carl Cronan | Updated on May 27, 2008

ATLANTA-In the current commercial real estate market where availability of capital is difficult to come by, all-cash transactions may become the norm for smaller transactions. Such is the case with the $2.9-million sale of a three-building, 96,000-sf flex package handled by locally based Carter.

Atlanta West Business Park, at 3201 Atlanta Industrial Parkway North on the city’s west side, was sold to a private investor group called Atlanta West Business Center LLC by Aetna Life Insurance Co. for an undisclosed price. The class B property is currently 62% leased, primarily by state and local government tenants, according to Andrew Murphy, vice president of investment advisory sales with Carter’s Atlanta office.

“Having an all-cash buyer in the final round makes the decision all that much clearer for us,” Murphy tells GlobeSt.com. “Those buyers are differentiating themselves when they approach deals with a higher leverage stack.”

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