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Atlanta Hawks, City of Atlanta Plan $192.5M Renovation of Philips Arena

ATLANTA — The Atlanta Hawks Basketball Club and the city of Atlanta have reached an agreement on key terms for a $192.5 million renovation of Philips Arena, the home stadium of the Atlanta Hawks in downtown Atlanta. Atlanta Mayor Kasim Reed committed to provide $142.5 million in public funds, with the Hawks to fund the remaining $50 million, to improve the city-owned facility. The Hawks also committed to an 18-year lease extension to remain in downtown Atlanta through 2046. “When our..

November 2, 2016

Banyan Street Capital, Oaktree Acquire 191 Peachtree in Atlanta for $268M

ATLANTA — A partnership between Banyan Street Capital and funds managed by Oaktree Capital Management has purchased 191 Peachtree Tower from Cousins Properties in downtown Atlanta. The partnership bought the 50-story office tower for $268 million. The 1.2 million-square-foot office tower was 93 percent leased at the time of sale to tenants such as the Robert W. Woodruff Foundation, Deloitte, Cooper Carry, Hall Booth Smith and The Commerce Club. The Metro Atlanta Chamber is also relocating..

October 26, 2016

PGIM Real Estate Acquires 1.1 MSF Avalon Mixed-Use Center Near Atlanta

ALPHARETTA, GA. — PGIM Real Estate has acquired Avalon, a 1.1 million-square-foot mixed-use lifestyle center in the Atlanta suburb of Alpharetta. North American Properties developed Avalon in 2014 at an estimated cost of $600 million. The sale price was not disclosed. PGIM acquired the center on behalf of institutional investors. The open-air lifestyle center contains 390,543 square feet of retail space, 105,364 square feet of Class A office space, 250 luxury apartment units and a..

July 25, 2016