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3 Ravinia Drive Atlanta, GA...

Lothar Estein Of Estein USA Acquires Dunwoody Office Tower For $175M
SOLDOffice

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

Lothar Estein

Estein USA

Buyer

$338.3M

vol

3 deals

Buyer

Frank Cohen

Blackstone

Seller

$175M

vol

2 deals

Seller

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