The acquisition price was not revealed, but according to realestate sources the price was close to $17 million. "The acquisitionfit our overall strategy of acquiring quality office buildings inprime locations," says Block and Co. director of acquisitions BrianBeggs. "The Peachtree Corner submarket is improvingdramatically."

Atlanta-based Sterling Equity Advisors LLC managing directorPeter Fish represented Block in the transaction by placing equityon behalf of Block for the purchase. The equity was placed with anunnamed real estate private equity investor. The transaction wasthe second under a $200-million equity joint venture programestablished by Sterling Equity, Fish tells GlobeSt.com.

"This is a good fit for the equity joint venture program we haveestablished between Block and our equity investor because theyshare similar investment objectives," Fish says. "Block needed aco-investor for the acquisition. The equity placed providedmoderate senior leverage on the asset."