ATLANTA—As Atlanta’s office market shows improvement, assetslike Powers Ferry Business Park are winning refis. Thefive-building, 256,600-square-foot multi-tenant office park justclosed a $15 million first mortgage. Meanwhile, trophy assets inAtlanta are in high demand.

Grandbridge Real Estate Capital’s Jacksonvilleoffice closed the deal. Grandbridge senior vice presidentTaylor Williams handled the loan, which was fundedthrough AIG Global Real Estate. The 10-year fixedrate mortgage closed with a 4.6% interest rate and is interest-onlyfor the first 24 months, amortizing on a 30-year schedulethereafter.

Beyond refis, the Atlanta market is also seeing some tractionwith trades. Six trophy properties—located in the Buckhead, Midtownand Central Perimeter areas—are either on the market, undercontract or have recently closed. A good example is Prudential RealEstate Investors' recent purchase of the 20-story 10 PeachtreePlace in Midtown for more than $61 million, or $236 per squarefoot. The cap rate for the sale was 7.1%.