At the time of the closing, nine years remained on its lease at the Downtown property.
The loan is for 10 years at a 7.33% interest rate. The financing has a 30-year amortization and represents a 71% loan-to-value ratio.
The Atlanta office of Marcus & Millichap Capital Corp. arranged the financing but refused to disclose the name of the lender.
NOT FOR REPRINT
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.