Thank you for sharing!

Your article was successfully shared with the contacts you provided.

ATLANTA-Locally based Robert Pattilo Properties Inc. has sold a 30-year-old, 240,000-sf warehouse at 13 Overmeyer St. in suburban Forest Park, GA for an estimated $6.5 million or about $27 per sf.

Regions Bank of Birmingham, AL funded the 100%-leased acquisition for $5.14 million at a 3.91% variable interest rate over three years with two one-year options. The loan-to-value ratio was 80%. The loan was amortized over 25 years.

The Atlanta office of Marcus & Millichap Capital Corp. arranged the loan but wouldn’t disclose the borrower’s identity. The buyer is an Atlanta-based, privately owned commercial real estate firm, says M&M’s prepared statement.

M&M also didn’t disclose the purchase price.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.