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1001 Perimeter Summit Boule...

Spear Street Capital Acquires Office Buildings On Summit Blvd In Atlanta For $247.5M
SOLDOffice

Spear Street Capital Acquires Office Buildings On Summit Blvd In Atlanta For $247.5M

1001 Perimeter Summit Boulevard, Atlanta, Georgia 30319, United States

$247,500,000

Building Size

Asset Type

Office

Closing

Jan 13, 2023

AI

The property located at 1001, 2002 & 4004 Summit Blvd in Atlanta, GA has been sold in a recent transaction. The asset is an office building with a sale price of $247,500,000. The buyer of the property is Spear Street Capital. The deal was facilitated by the brokers Richard Reid, Ryan Clutter, Ed Coco, Huston Green, and Ralph Smalley from JLL.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $247,500,000
  • Date: 01/13/2023
  • Address: 1001, 2002 & 4004 Summit Blvd
  • Market: Atlanta, GA
  • Buyer: Spear Street Capital
  • Brokers: Richard Reid, Ryan Clutter, Ed Coco, Huston Green & Ralph Smalley - JLL

In this transaction, Spear Street Capital acquired the office property located at 1001, 2002 & 4004 Summit Blvd in Atlanta, GA for a total sale price of $247,500,000. The deal was successfully closed with the assistance of Richard Reid, Ryan Clutter, Ed Coco, Huston Green, and Ralph Smalley, who represented the buyer and seller in the transaction.

Players

Ed Coco

JLL

Broker

$491.7M

vol

5 deals

Broker
Spear Street Capital
Spear Street CapitalBuyer

Brookhaven Office Market Snapshot

Boundary boundary · Office · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.06%

Cash-on-Cash

-0.02%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93