ATLANTA—Despite massively low occupancy, Campanile, a 20-storyclass A office building in Midtown Atlanta, has won investorconfidence. The former Bell South headquarters has secured a $72million loan. The building is 50% leased.

Buchanan Street Partners, a lender for coreplus and value-add income properties, made the loan on the445,280-square-foot office building. Buchanan's non-recourse firstmortgage retires existing financing and gives DewberryCapital, which has owned the property since 2010, newfunds for leasing costs.

“We were attracted to the high quality of this asset, the strongcredit of its anchor tenants and its central location in a positivetrending submarket,” says Bob Dougherty, partnerat Buchanan. “Dewberry Capital is well-regarded for its expertisein Midtown, and we were able to meet their needs for an expeditiousclosing while devising a capital structure that was advantageous toall.”