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Transactions - AUGUST 9, 2018

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Bridge Investment Group acquires office portfolio for $250m

by Andrea Zander

Bridge Office Fund Manager, a subsidiary of Salt Lake City–based Bridge Investment Group, has acquired Lenox Park, a 32-acre office campus located in Atlanta’s Buckhead district.

The seller was Fortress Investment Group.

The complex totals 1 million square feet spanning across five buildings. It serves as the corporate campus for AT&T.

Lenox Park marks the latest deal for Bridge’s office group, which is based in Atlanta and growing quickly.  This acquisition brings Bridge’s year-to-date total to nearly 4 million square feet of office space.

Strong market fundamentals in Atlanta continued as the first half of 2018 came to a close, according to JLL. Although absorption posted a modest loss for the quarter, both class A and class B properties remain positive year-to-date. HD Supply occupied their 222,000-square-foot build-to-suit space within Encore Center, but the gain was somewhat negated by their move out of slightly more than 100,000 square

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