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| Promenade II, Midtown, Atlanta, GA |
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| Mark Sixour |
ATLANTA, GA – HFF announced today that it has arranged $114
million in non-recourse financing for Promenade, a 775,089-square-foot,
Class A office tower in Atlanta’s Midtown submarket.
HFF worked on behalf of the borrower,
Cousins Properties Incorporated, to secure the nine-year fixed-rate mortgage
loan, which is non-recourse to Cousins, through Northwestern Mutual. The property was previously unencumbered
with debt.
Promenade is situated along Peachtree
Street, in the epicenter of Midtown, and adjacent to The Four Seasons, Colony
Square and the High Museum.
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| Bill Ireland |
Recently
renovated by Cousins, the property was originally constructed in 1990 as a
build-to-suit for AT&T, and also includes a 2,054-space parking
garage. Today, the building is 87
percent leased with minimal near term rollover.
The HFF team representing Cousins was led by senior managing
director Mark Sixour and associate director Bill Ireland.
Cousins Properties Incorporated is a fully integrated,
self-administered and self-managed real estate investment trust (REIT). The Company, based in Atlanta, GA, primarily
invests in Class A office towers located in high growth Sunbelt markets, with a
focus on Georgia, Texas and North Carolina.
For a complete copy of the company’s news release, please
contact:
Olivia Hennessey
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com
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