ATLANTA—The Peachtree, a 345,244-square-foot class A office building in Midtown Atlanta, just secured a $48.6 million senior acquisition loan. 1355 Peachtree Owner snapped up the office buildings, which is 91.7% occupied.
The buyer is affiliated with Banyan Street Capital and funds managed by Oaktree Capital Management. An affiliate of DRA Advisors sold the Atlanta office building.
"The Midtown market is recovering strongly after lagging behind Buckhead and the perimeter," John Randall, managing director with PCCP, tells GlobeSt.com. "We see a nice mark to market opportunity embedded in Midtown office right now. "
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