October 7, 2019
Acres Capital Corp. provided a $12.9-million acquisition loan for 1439 Peachtree St. NE, a 40,000-square-foot office building in Atlanta set to be transformed into a mixed-use project.
Acres provided the financing to Capital City Real Estate, a development, construction, sales, marketing and investment firm. Andrew Asbill of JLL brokered the transaction.
“This project offers the appealing opportunity to redefine a single-use office property as a multifaceted destination incorporating condominiums, retail, office and hospitality space,” said Mark Fogel, CEO of Acres. “The building’s prime Midtown location is nearby popular retail outlets and is well-situated for large office centers, which gives it the ability to accommodate residents and office tenants alike.”
For comments, questions or concerns, please contact David Cohen