Atlanta Office Tower Bags $29M Construction Loan
- Feb 13, 2018
Pacific Coast Capital Partners LLC has provided a $29.4 million equity loan to Portman Holdings LLC for the development of Anthem Technology Center, a 21-story, 360,000-square-foot office tower project located at 740 W. Peachtree Northwest St. in Atlanta. Anthem Inc. has already preleased the entire building.
Spread across a 1.2-acre site in a rapidly growing live‐work‐play environment, the Class A high‐rise is slated to offer 7,400 square feet of ground-floor retail, structured parking and 352,600 square feet of office space.
“PCCP will provide a portion of the equity for the development of this property, which will deliver a high-quality, well-located office building. This is our third transaction with Portman Holdings,” said Kevin Chin, senior vice president of PCCP, in a prepared statement.
The 1.4 million-square-foot Technology Square, Bobby Dodd Stadium, Emory University Hospital Midtown and the Georgia Institute of Technology campus are located nearby. The property offers easy access to Interstate 85 and North Avenue NW.
In another recent deal, PCCP provided a $44.5 million senior loan to S&P Co. and Basin Street Properties for the acquisition of Prospect Green, a Class A, 518,156-square-foot office campus in Rancho Cordova, Calif.
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