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Rubenstein, Monarch Acquire ATL’s Lindbergh Center from Columbia for $187M
Rubenstein Partners, L.P. and and Monarch Alternative Capital LP acquired Lindbergh Center, a 1.1-million-square-foot, mixed-use property in Atlanta, from Columbia Property Trust for $187 million. The Class A complex is built over Lindbergh Station, a key connection on Atlanta’s MARTA rapid rail system.
The new owners intend to implement a capital investment program to enhance the overall amenities at the property and re-create a neighborhood-friendly, mixed-use environment.
Columbia had acquired the twin 14-story office buildings that constitute the majority of the Lindbergh Center complex in 2008. The buildings at Piedmont Road and Lindbergh Drive, within Atlanta’s thriving Buckhead submarket, are fully-leased to AT&T until December 31, 2020.
Cushman & Wakefield’s Stewart Calhoun, David Meline, Samir Idris and Adam Spies represented the seller. Cushman & Wakefield’s Mike Ryan, Brian Linnihan and Richard Henry secured a floating rate loan from Mack Real Estate Credit Strategies, structured with future funding for renovations, repositioning capital, tenant improvements and leasing commissions.
*Photo credit Alex Arnett, APG Photography
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Financing
- ◦Sale/Acquisition