One Premier Plaza, Atlanta, 5605 Glenridge Drive NE, Central Perimeter, Atlanta, GA |
ATLANTA, GA –– Holliday
Fenoglio Fowler, L.P. (HFF) announced it has arranged $38.76 million in
financing for One and Two Premier Plaza,
a two-building, Class A office complex totaling 316,734 square feet in Atlanta,
Georgia.
HFF worked on behalf of
the borrower, Zeller Realty Group, to secure the floating-rate loan through New
York Life Insurance Company with an initial term of three years plus two
12-month extension options. Loan proceeds
were used to acquire the property and provide funds for future leasing and
capital improvement costs.
One and Two Premier Plaza
is situated on a 7.54-acre site at 5605 and 5607 Glenridge Drive NE in
Atlanta’s Central Perimeter. This places
the property within a half of a mile from the intersection of State Highway 400
and Interstate 285, providing connectivity to all of Metro Atlanta.
Ed Coco |
The 11-story One Premier Plaza and the
seven-story Two Premier Plaza are 81.4 percent leased to a variety of national,
regional and local tenants, including McGriff, Siebels & Williams, Mozley,
Finlayson & Loggins, FirstPRO, JMG Realty, Peachtree Hotel Group and The
Gap.
Recently renovated, the office complex offers
covered building access, structured parking, an exterior patio with barbeque
grills, café, conference facility and fitness center.
The HFF debt placement
team representing the borrower was led by senior managing director Ed Coco and senior real estate analyst Matt Casey.
“Zeller Realty Group is a
best-in-class owner/operator in several office markets across the country, and
with their acquisition of Premier Plaza, Zeller has now entered the Atlanta
market with a well-located asset offering the combination of a diverse tenant
base with income growth potential,” said Coco.
“The financing offered by
New York Life provided a structure that best aligned with Zeller’s strategy for
this asset that has been well-executed with similar properties in other markets
across the county, and we look forward to seeing the same success and growth in
Atlanta going-forward.”
“We are extremely pleased
to enter the Atlanta market with our acquisition of One & Two Premier
Plaza,” said Paul M. Zeller,
Chairman and CEO of Zeller Realty Group.
“Having studied it closely for several years, we know first-hand that
Atlanta is a leading growth market with a diversified economy. We look forward to additional investments in
Atlanta, as Zeller Realty Group continues its growth nationwide.”
Two Premier Plaza, Atlanta, GA |
Zeller Realty Group (ZRG) is a vertically
integrated commercial real estate investment and development firm that has
offered investors exceptional expertise, innovation, and insight to value for
over 28 years.
ZRG strategically selects
properties for value creation, repositioning and reintroduction to their
markets, while maximizing efficiency by providing a full spectrum of real
estate services, including development, leasing, management, and construction. Headquartered in Chicago, Illinois, ZRG owns
and operates assets in the Midwest, Colorado, Oregon, and Georgia and continues
to grow and expand its holdings nationally.
Since its formation, the
company has delivered strong returns for its partners and co-investors by
providing best-in-class service to enhance value. Currently, ZRG owns and operates a portfolio
of nearly 9 million square feet valued at $2.3 billion.
For more information,
please visit: www.zellerrealty.com.
For a complete copy of the company’s news
release, please contact:
Kristen Murphy
Director, Public Relations
HFF | One Post Office
Square, Suite 3500 | Boston, MA 02109
tel 617.848.1572 | cell
617.543.4873 | www.hfflp.com
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