The office will be located at Paces West, a 646,000-sf office property in the city's Cumberland/Galleria submarket acquired by Behringer Harvard REIT I Inc. in April. It bought the two-building asset for $114 million. The company also owns Ashford Perimeter, a 288,175-sf class A office building at the intersection of Ashford Dunwoody Road and Interstate 285.
Behringer Harvard senior vice president Jason Mattox tells GlobeSt.com that the company has several funds that will focus on investment opportunities in major metropolitan areas in the Mid-Atlantic and Southeast, such as Washington, DC, Atlanta, Charlotte, NC and Miami. The core fund targets stabilized core institutional office properties while the opportunistic funds target value-added office, retail and industrial properties. "The southeast has witnessed a lot of positive demographic and economic trends," Mattox says. "You can't deny the demand and growth of commercial real estate in this area."
Joshua Taylor joins the company as a vice president and serves as regional head of the Atlanta office. He will be responsible for the acquisition of properties in the Mid-Atlantic and Southeast regions for various company investment programs. Prior to joining the company, Taylor was an associate at Jamestown, where he was part of a team instrumental in several large acquisitions, including the General Motors Building in New York.
In his new role, Dean Patterson serves as the Atlanta regional asset manager and will be responsible for executing the operating strategy and ensuring the quality of tenant services for the company's assets located in the mid-Atlantic and southeast. Before joining the company, he was vice president in the Atlanta office for Prudential Real Estate Investments–TMW Property Funds.
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