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
Brookhaven Office Market Snapshot
Boundary boundary · Office · Sale transactions
Loading comparables…
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