ATLANTA— Peachtree Lenox, a class A, nine-story, 125,669-square-foot office building in Atlanta's Buckhead submarket, just traded hands. The sale price: $21.3 million.

Roseview-PMRG Fund I, a $250 million discretionary fund formed by PM Realty Group (PMRG) and Roseview Group, acquired the office building. This is the fund's first acquisition in Atlanta. The partnership also owns properties in Texas and Massachusetts.

"Peachtree Lenox is an ideal asset for the fund because it is perfectly situated to respond to the demands of today's tenants, including access to quality residential neighborhoods, transportation and amenities," says Angelo LoBosco, executive vice president of PMRG.  "This property is exactly the type of product we are seeking to acquire for our fund: value-added office properties in key infill markets with extremely strong fundamentals."

Developed in 1964, Peachtree Lenox is located in the heart of Buckhead on Peachtree Road between Lenox Mall and the Atlanta Financial Center. That's directly between the W Hotel and Westin Hotel.

The office building is just minutes from the Buckhead Loop, GA 400 and the Buckhead MARTA station, offering quick access to the Atlanta Central Business District, Central Perimeter, and other nearby communities. Of course, Buckhead is home to retail stores, hotels, restaurants, residential neighborhoods, schools, art galleries, the Atlanta History museum, the Governor's Mansion, and 30 parks. 

At 81% leased, Peachtree Lenox is leased to several high profile firms. Tenants include Branch Banking & Trust (BB&T), Bosley Medical, Randstad Staffing, Martenson, Hasbrouck & Simon, and Withrow, McQuade & Olsen. PMRG's Atlanta office will oversee property management and leasing of the building.