HFF Secures $39M Loan for Premier Plaza Complex
- Feb 27, 2017
By Adina Marcut
Atlanta—HFF recently announced that it has secured $38.8 million in financing for One and Two Premier Plaza, a 316,734-square-foot, two-building, Class A office complex in Atlanta. HFF worked on behalf of the borrower, Zeller Realty Group, to arrange the floating-rate loan.
Located at 5605 and 5607 Glenridge Drive NE, in Atlanta’s Central Perimeter, the property is situated half of a mile from the intersection of State Highway 400 and Interstate 285, providing access to Metro Atlanta. The 10-story One Premier Plaza and the seven-story Two Premier Plaza are 81.4 percent leased to a mix of tenants, including McGriff, Siebels & Williams, Mozley, Finlayson & Loggins, FirstPRO and others. According to Yardi Matrix, the office complex offers a total of 1,100 parking spaces and fitness center.
“Zeller Realty Group is a best-in-class owner/operator in several office markets across the country, and with their acquisition of Premier Plaza, Zeller has now entered the Atlanta market with a well-located asset offering the combination of a diverse tenant base with income growth potential,” HFF Senior Managing Director Ed Coco said in prepared remarks. “The financing offered by New York Life provided a structure that best aligned with Zeller’s strategy for this asset that has been well-executed with similar properties in other markets across the county, and we look forward to seeing the same success and growth in Atlanta going-forward.”
The HFF debt placement team representing the borrower was led by Coco and Senior Real Estate Analyst Matt Casey.
Image courtesy of Yardi Matrix