ATLANTA—TownPark Commons, a 349,635-square-foot office building in Kennesaw, GA, a northwest suburb of Atlanta, has won the confidence of investors. HFF arranged a $41.4 million acquisition loan against the asset.
HFF senior managing director Brian Carlton and director Gregg Shapiro led the charge. The firm placed a five-year, fixed-rate loan with Ares Management. The loan will also fund tenant improvements and leasing commissions.
TSP Value and Income Fund, a discretionary value-add real estate fund managed by Transwestern Investment Group, acquired the asset. The fund works to deliver strong risk-adjusted returns with a focus on current income and lower volatility.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 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.
