ATLANTA—Wondering just how hot industrial is getting in Atlanta?The capital markets certainly seem ready andwilling to make bets there.

|

HFF arranged $72.256 million in acquisitionfinancing for Cobb West Business Park. Cobb is a 16-propertyindustrial portfolio totaling 1.726 million squarefeet in Austell, GA. Austell is a suburb west of Atlanta.

|

HFF's senior managing director Brian Carltonand director Gregg Shapiro worked on behalf of theborrower, High Street Realty Company, and aninstitutional joint-venture partner. The financing wasstructured as a $61.256 million senior mortgage throughSunTrust Bank and an $11 million mezzanine loanthrough Principal Global Investors.

|

“Capital sources are more interested in portfolios than theywere in 2010 and 2011,” Philip Carroll, seniorvice president and South Florida regional manager forGrandbridge Real Estate Capital, told attendees atRealShareIndustrial in Miami last month. “There's definitely a premiumin pricing and probably in the funding of those portfolios.”

|

Cobb West Business Park is located south of Interstate 20 at960, 980, 1080, 1218, 1220 and 1230-A, B and C Six Flags Road;7800, 7895, 7950 and 7995 Third Flag Parkway and 7948, 7990, 8005and 8015 Second Flag Drive. The industrialbusiness park is about a 10-minute drive from Interstate 285 andabout 15 minutes from Interstates 75 and 85, Downtown Atlanta andHartsfield-Jackson Atlanta International Airport.

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.