DULUTH, GA-CNL Growth Properties of Orlando, FL says it is beginning to explore the possible sale of the Gwinnet Center office complex here.
The firm acquired the three-building complex, which totals 263,742 square feet of leasable space, in October 2011, from a lender for $14.1 million.
The firm disclosed its plans in a recent filing with the Securities and Exchange Commission. “Due to continuing trends and favorable market conditions in multifamily development, and the company's increasing focus on that sector, our advisor is beginning to explore a potential sale of the Gwinnett Center,” CNL Growth Properties stated in the SEC filing. See story in the Atlanta Business Chronicle.
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