October 26, 2016
Cousins Properties Inc. sold the 50-story One Ninety One Peachtree tower in downtown Atlanta. Banyan Street Capital and Oaktree Capital Management LP acquired the 1.2-million-square-foot tower for $268 million. Cousins will continue to manage the property.
The seller acquired the mostly-empty asset in 2006 for $153 million. During its hold, Cousins renovated the tower’s interior and executed 760,000 square feet of new releases and renewals. One Ninety One is 93% leased to tenants including Deloitte, the Metro Atlanta Chamber, Cooper Carry and Hall Booth Smith.
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