ATLANTA—In a joint venture with SDM Partners, Admiral Capital Group just sold 200 Ashford Center. Financial terms of the deal were not disclosed.

Built in 1989, the 158,384-square-foot office property sits in the Central Perimeter, Atlanta's largest office submarket, near the intersection of Ashford Dunwoody Road and Mount Vernon Highway. The joint venture originally acquired the office asset in Sept. 2012 for $13 million. The sale marks Admiral's fourth exist in its first value-add real estate fund. The asset was acquired in September 2012.

"Admiral is very pleased with the repositioning of 200 Ashford," says Daniel Bassichis, co-founder of Admiral. "Our investment thesis was to create value by investing the capital necessary to upgrade the building and improve the tenancy in the strengthening Atlanta market, which we successfully achieved."