Lothar Estein Of Estein USA Acquires Dunwoody Office Tower For $175M
3 Ravinia Drive Atlanta, GA 30346, USA
$175,000,000
Building Size
—
Asset Type
Office
Closing
Aug 30, 2023
AI
Estein USA has acquired 3 Ravinia Drive, Dunwoody's tallest office tower, for $175 million. This transaction marks one of the largest office acquisitions in metro Atlanta this year. The property is located at 3 Ravinia Drive in Dunwoody, GA and offers impressive characteristics.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $175,000,000
- Address: 3 Ravinia Drive, Dunwoody, GA
- Market: Dunwoody, GA
- Buyer: Lothar Estein - Estein USA
- Seller: Frank Cohen - Blackstone REIT
Lothar Estein, representing Estein USA, sealed the deal as the buyer of 3 Ravinia Drive, while Frank Cohen from Blackstone REIT acted as the seller. This acquisition demonstrates Estein USA's strong position in the market and highlights their commitment to expanding their presence in the Atlanta area.
Players
Dunwoody 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
0.09%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93