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Transactions - OCTOBER 26, 2016

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Atlanta office tower sells for $268m

by Andrea Waitrovich

A partnership between Banyan Street Capital and funds managed by Oaktree Capital Management has purchased 191 Peachtree Tower in downtown Atlanta from Cousins Properties. The partnership bought the 50-story office tower for $268 million.

Tenants of the 1.2 million-square-foot tower include Robert W. Woodruff Foundation, Deloitte, Cooper Carry, Hall Booth Smith and The Commerce Club. The building is 93 percent leased.

Cousins purchased 191 Peachtree in 2006 for $153 million.

Atlanta office investment volume in the third quarter totaled more than $1 billion, on par with quarterly amounts from 2015, according to Colliers International. The largest transaction of the quarter was Rubenstein’s $265 million purchase of Sanctuary Park from JP Morgan. Atlanta office investment volume is expected to see a str

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