"1100 Peachtree is an exceptional complement to our portfolio and solidifies Manulife's presence in the Atlanta real estate market," says Manulife Real Estate Division senior vice president and general manager Stephani Kingsmill.

The seller was locally based Carter Real Estate Fund I and USAA Real Estate Co. Carter, which developed the property in the early 1990s, will continue to manage and lease the property with vice president John Zintak leading the leasing efforts. Carter's sales team of Jim Shelton, Eli Green and Andy Swadel represented Carter in the deal.

The property is located at the corner of 12th Peachtree streets near the High Museum, the Woodruff Arts Center, and the Marta Arts Center and Midtown Stations. It features 10,500 sf of retail facilities such as the Oceanaire Seafood Room and more than 1,200 parking spaces.

"1100 Peachtree is a fantastic building that has created tremendous value for Carter and USAA Real Estate Co. over the years," Shelton says. "As the developer, property manager and leasing agents for the building, Carter has served an integral role on this property. We are pleased to come full circle with this property and pass the reins to Manulife."

Manulife first entered the Atlanta equity real estate market in 1998. Currently, the company's Atlanta portfolio consists of 10 properties totaling more than 2.7 million sf. Manulife also owns the Proscenium, located one block to the north of 1100 Peachtree at the corner of 14th Peachtree streets.