“This transaction represents the final stabilization of this notable asset and is a milestone in Carter's business plan,” says Rice, senior vice president, CBRE Capital Markets. “It was a great execution among all parties and a competitive process, and ultimately speaks to the goals of KKR, a recent entrant to real estate finance and the Atlanta market.”

715 Peachtree's adaptive reuse of an aging building and repositioning it into a creative tech-friendly office space landed the asset on Atlanta's 2016 Best in Commercial Real Estate list in the Renovation and Rehabilitation category. CBRE's Eric Ross, Clark Gore and Sabrina Gibson manage leasing for 715 Peachtree on behalf of Carter, and CBRE's Asset Services team manages the building.

ATLANTA—715 Peachtree, a 10-story, 318,450-square-foot class A office building in the heart of Midtown Atlanta, has secured $61.9 million in financing. CBRE Group's Debt & Structured Finance team arranged the loan for Carter and PCCP.

Jonathan Rice and Jeff Ackemann of CBRE's Atlanta office led the capital markets efforts for the three-year bridge loan provided by KKR & Co. The loan will enable Carter to pay an existing loan used for renovations and refurbishment to the property, and provides for tenant improvements and leasing capital.

“We are seeing competition among the lending community for stand-out assets such as 715 Peachtree,” Ackemann, executive vice president of CBRE, tells GlobeSt.com. “This building brings a desirable block of creative office space and exclusive retail to a submarket rich with talented professionals. It's attracting big-name tenants and thus attracting investors and partners such as KKR, a recent entrant to the Atlanta market.”

The strength of the building made for a highly sought-after financing opportunity as 715 Peachtree sits in one of the top submarkets in the Southeast. Momentum at 715 Peachtree has been apparent, as the space includes major office tenants such as Honeywell and Spaces, and unique retail such as Land of a Thousand Hills, Stone Summit and Bareburger.

“This transaction represents the final stabilization of this notable asset and is a milestone in Carter's business plan,” says Rice, senior vice president, CBRE Capital Markets. “It was a great execution among all parties and a competitive process, and ultimately speaks to the goals of KKR, a recent entrant to real estate finance and the Atlanta market.”

715 Peachtree's adaptive reuse of an aging building and repositioning it into a creative tech-friendly office space landed the asset on Atlanta's 2016 Best in Commercial Real Estate list in the Renovation and Rehabilitation category. CBRE's Eric Ross, Clark Gore and Sabrina Gibson manage leasing for 715 Peachtree on behalf of Carter, and CBRE's Asset Services team manages the building.