ATLANTA—A private family interest in Brazil just won a $95 million acquisition loan for a portfolio of five single-tenant office buildings—all occupied by Wells Fargo. Located in Georgia, North Carolina, South Carolina and Virginia, the buildings span 1.6 million square feet.

Charles Foschini, Christian Lee, and Christopher Apone of CBRE's Miami office secured the financing. Guggenheim Partners provided the 10-year loan with 30-year amortization, at an aggressive interest rate and 65% loan-to-value.

“The trick in this deal was getting comfortable with the uses of the buildings and their value if ever Wells Fargo decides not to renew its lease,” says Foschini. The buildings are: 3579-3585 Atlanta Avenue in Atlanta; 401 Linden Street, Winston-Salem, NC; 809 W. 4½ Street and 801 West 4 Street in Winston-Salem, NC; 101 Greystone Boulevard, Columbia, SC; and 7711 Plantation Road, Roanoke, VA.

“Wells Fargo had some growth and cancellation options that enveloped this pool of assets, and an additional group that was not being purchased by this borrower,” Foschini says. “Working together, Guggenheim's CMBS desk dove deep into the deal, understanding all the nuances, providing the borrower with a single-stop solution that accomplished both their leverage and cash flow objectives for a triple-net credit asset.”

Kevin Welsh, senior vice president of CBRE's Institutional Properties team, isn't surprised to see the deal inked. He tells GlobeSt.com the market moved into 2015 with confidence and fervor that he hasn't seen since 2009.

“There's an abundance of capital available,” he says. “In fact, there's too many dollars and too few deals. This strong flow of capital is creating an upward pressure and people are buying with good feelings about the future, which has created strong and highly liquid capital markets. From where we sit, this is a good thing, as there's a significant level of investor interest.”