Rubenstein, Monarch Acquire Transit-Oriented Mixed-Use Development in Atlanta for $187M
ATLANTA — Rubenstein Partners and Monarch Alternative Capital have acquired Lindbergh Center, a 1 million-square-foot mixed-use development in Atlanta’s Buckhead district, for $187 million. The property comprises twin 14-story office buildings above the MARTA Lindbergh Station and a 47-acre development that includes residential and retail space. Retailers include LongHorn Steakhouse, Taco Mac, Jimmy Johns, Willie’s and Five Guys. Residential communities include eon at Lindbergh and Alexan Buckhead Village. Lindbergh Center’s office towers are fully leased to AT&T until Dec. 31, 2020. The buyers plan to implement upgrades that will include improving the overall amenities at the property. Stewart Calhoun, David Meline, Samir Idris and Adam Spies of Cushman & Wakefield represented the seller, Columbia Property Trust, in the transaction. Mack Real Estate Credit Strategies (MRECS) provided first mortgage debt financing for the transaction. Columbia Property Trust purchased the development in 2008.