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ATLANTA-Miami-based America's Capital Partners has acquired the 2.5-million-sf Peachtree Center with $207.6-million in acquisition financing. New York-based Colonnade Properties LLC was the seller.

CB Richard Ellis institutional group executive vice president Christian Lee, CBRE Melody's South Florida office senior director Charles Foschini and CBRE investment properties group associate Christopher Apone arranged the permanent financing through a correspondent lender on behalf of America's Capital Partners and their partner DLF Immobilien, a German fund.

CB Richard Ellis' Chris Port and Jeff Keppen will head up leasing for the property. The pair also handles leasing at Two Ravinia for America's Capital Partners.

Built between 1969 and 2002, Peachtree Center is comprised of six high-rise office towers, a three-tiered mall with more than 70 shops and restaurants, a 73,500-sf athletic club and surrounding parking decks. There is about 2.3 million sf of office space and 200,000 sf of retail space. Colonnade Properties had been embarking on an aggressive leasing campaign for the space over the past year, as GlobeSt.com previously reported. By August, the company had completed 26 leases transactions totaling 215,371 sf and increased the building's occupancy from 62% to 67%. Colonnade had set a goal of increasing occupancy to 72% by year's end.

Over the last two years, America's Capital Partners has acquired several office buildings in Atlanta, including Piedmont Center 14, Millennium at Midtown and Two Ravinia.

Instant Insights /

$208M Funds Peachtree Center Acquisition

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