October 5, 2016
Starwood Capital Group, in partnership with Core Property Capital, acquired the 1.1-million-square-foot One Atlantic Center in Atlanta, GA from Hines of Houston. Though transaction terms were not disclosed, local media indicated the sales price could have been approximately $330 million. Eastdil Secured represented the seller.
The 50-story building at 1201 W. Peachtree St. was designed by architect Philip Johnson, and is the tallest building in Midtown Atlanta. The tower is 90% occupied.
“This acquisition is consistent with our long-held investment strategy of buying high-quality assets at a meaningful discount to replacement cost in markets experiencing limited amounts of new supply and outsized job and population growth,” said Mark Keatley with Starwood.
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