Atlanta

The property adjacent to Interstate 85 at 117 Valentine Industrial Parkway totals 1.021 million square feet and was recently completed by USAA Real Estate/Seefried of Atlanta.

When the merger closes, the company will retain the Cousins name and will trade under the ticker symbol CUZ.

The Aventura, FL-based asset management firm purchased the 187,373-square-foot office center in Cobb County from Pope & Land Real Estate of Atlanta.

The deal was reported by Bethesda, MD-based commercial real estate finance firm Walker & Dunlop, which represented California-based Praelium Commercial Real Estate and South Street Partners of Charlotte, NC, in refinancing the property as part of a restructuring and recapitalization of the ownership entity.

The deal increases Blue Magma's Atlanta area portfolio to 3,000 value-add units purchased by the firm in less than four years at a cost in excess of $133 million.

Momentum Real Estate has thus far acquired 4,100 multifamily units valued at more than $550 million.