ATLANTA, GA – Cushman & Wakefield’s Equity, Debt & Structured Finance Group arranged $18.8 million in financing on behalf of Biscayne Atlantic to fund the acquisition of Gwinnett Commerce Center, a 10-story, 213,563-square-foot office building located in Duluth, Ga., in Atlanta’s Northeast submarket. Biscayne Atlantic purchased the property in a joint venture with Red Starr Investments and PointOne Holdings.
Senior Managing Director Mike Ryan, Managing Director Brian Linnihan and Director Jeff Walker led the C&W team that arranged acquisition financing on behalf of the buyer. NXT Capital provided the loan. In addition to financing the acquisition, the loan will provide proceeds for comprehensive capital improvements.
C&W’s Atlanta Capital Markets Group also represented the seller, Miami-based Parmenter Realty Partners, in the transaction. C&W’s Executive Director David Meline, Executive Director Stewart Calhoun and Director Samir Idris represented Parmenter Realty Partners in the transaction.
Located at 3700 Commerce Center Drive, Gwinnett Commerce Center is a premier Class A office building that has been institutionally owned and maintained since it was constructed in 1989. As the tallest office building in the Northeast Atlanta submarket, the building provides excellent visibility and stunning views. It is also the only office building in the submarket with a covered parking deck, which is attached to the lobby by a covered walkway.
The contemporary design is highlighted by a two-story atrium, a reflective glass exterior, full-height windows and granite finishes. Other amenities include a full-service café, a conference facility, on-site management, 24/7 security, and convenient entry and exit via multiple access points.
Cushman & Wakefield has also been selected to provide property management and leasing services for the new owner.
Cushman & Wakefield is the world’s largest privately?held commercial real estate services firm. The company advises and represents clients on all aspects of property occupancy and investment, and has established a preeminent position in the world’s major markets, as evidenced by its frequent involvement in many of the most significant property leases, sales and assignments. Founded in 1917, it has 253 offices in 60 countries and nearly 15,000 employees. It offers a complete range of services for all property types, including leasing, sales and acquisitions, equity, debt and structured finance, corporate finance and investment banking, corporate services, property management, facilities management, project management, consulting and appraisal. The firm has more than $3.7 billion in assets under management globally. A recognized leader in local and global real estate research, the firm publishes its market information and studies online at www.cushmanwakefield.com/knowledge.