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34 Peachtree Sells for About One-Third of 2005 Price

ATLANTA—Fairlead's John Ward is betting on a strong resurgence in Downtown Atlanta--and got a deep discount on a 30-story office tower.

By Jennifer LeClaire | Updated on September 17, 2013

ATLANTA—34 Peachtree, a 30-story office tower in Downtown Atlanta, has a new owner. Fairlead Commercial Real Estate LLC and The Creations Group snapped up the mortgage note for $11.85 million in partnership with Asian-based private investors.

The sale price equals $39 per square foot. The prior ownership paid $28.25 million, or $94 per square foot, for the property in 2005. One Park Tower LLC acquired the note in an all-cash transaction. Cushman & Wakefield represented special servicer Midland Loan Services in the note sale.

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