Southeast

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.

MGAC is helping to guide AGU through this groundbreaking process.

The marina facility on 13.1 acres at 6000 Peninsular Ave., known as “America's Southernmost Marina,” was sold by iStar Inc., which was represented in the deal by Avison Young principal George Vail.

While developers stand to reap the benefits of tax breaks, it is not clear how residents of low-income neighborhoods in Opportunity Zones will benefit from the redevelopment of their communities.

The respective properties were acquired through a newly formed joint venture among a wholly-owned subsidiary of Summit, a real estate holding company, and a global institutional asset management firm. The properties will be leased back to the seller on a triple-net basis.

Office Properties Income Trust had planned to reposition the building but the price was too good to resist.

The two companies reported this morning the transaction has been unanimously approved by the boards of directors of both companies. Mark Gibson, CEO of HFF, will join JLL as CEO, Capital Markets,

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.