ATLANTA — Atlanta-based Fairlead Commercial Real Estate LLC and The Creations Group have acquired 34 Peachtree, a 30-story office tower located in downtown Atlanta. The buyers purchased the mortgage note for nearly $11.9 million, or $39 per square foot, in partnership with private investors based in Asia. The prior ownership had paid approximately $28.3 million for the property in 2005. The 282,589-square-foot office tower, which is currently 66 percent leased, went into foreclosure on Sept. 3. Fairlead acted on behalf of its ownership entity, One Park Tower LLC, in the all-cash transaction. Cushman & Wakefield represented special servicer Midland Loan Services in the note sale. Fairlead will handle leasing and property management services at 34 Peachtree.
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