December 22, 2020
Real estate investment adviser Rubenstein Partners has secured a $114 million loan facility provided by Nuveen Real Estate to refinance Pennant Park, a 6-building office park in Atlanta’s Northwest submarket.
The transaction comes after the completion of Rubenstein’s business plan for the office property, which involved approximately $17 million of improvements aimed at transforming the property into a walkable Class-A urban office environment with immediate access to Truist Park, home of the Atlanta Braves. The 760,000-square-foot development is located at the intersection of I-75 and I-285 in the Northwest submarket of Atlanta.
Rubenstein worked with the Cushman & Wakefield Equity, Debt and Structured finance team of Mike Ryan, Brian Linnihan, Richard Henry, and Blake Cohen to secure the financing.
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Tags: Development, Office
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