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Blackstone REIT Selling 31-Story Three Ravinia Drive
Blackstone Real Estate Income Trust is selling Three Ravinia Drive in Dunwoody. The 814,000-square-foot 31-story tower office tower was acquired by the REIT last year. Bids are being accepted, and the selling price is expected to be significantly lower than when Preferred paid a record-high $210 million for the building in 2016.
The LEED Gold Certified tower is the tallest building in Dunwoody. It was developed by Hines in 1991 as part of a three-building, 42-acre complex. Three Ravinia Drive boasts a fitness center, conference center, 24/7 security, on-site café with event catering, Starbucks coffee counter, on-site car detailing, dry cleaner and cobbler, ATM and MARTA Access with shuttle service. An extensive lobby renovation included an elegant four-story living wall, new elevator cabs, fully upgraded building systems, and concierge service.
CBRE handles leasing for the office tower located across from Perimeter mall, and it is over 90-percent leased.
- ◦Sale/Acquisition