February 13, 2018
PCCP, LLC provided $29.4 million in preferred equity financing to Portman Holdings, LLC for the development of 740 West Peachtree, a 21-story, 360,000-square-foot office tower located in Atlanta’s Midtown market. The office space is 100% pre-leased to Anthem, Inc. It will be called Anthem Technology Center, and serve as the health insurer’s IT center.
PCCP’s Kevin Chin notes the company is delivering a “portion of the equity for the development of this property, which will deliver a high quality, well-located office building for a superb tenant.” It is PCCP’s third transaction with Portman Holdings.
The Class A high‐rise build‐to‐suit office tower on a 1.22-acre site will offer 7,400-square-feet of ground floor retail space and structured parking. The office tower will feature an all‐glass façade and cutting-edge sustainability design features that will make it one the premier LEED office buildings in Atlanta.
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