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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.

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About Angela Noote

Angela Noote is a native of Northern California and graduated from Chico State with a degree in public relations. After college she moved to the Central Coast and worked first in ad sales then in editorial, eventually spending more than a decade as a print reporter and editor. She detoured into design work at a printer/publisher, and with a partner eventually opened a boutique full-service marketing agency. Moving into corporate communications, she built and managed several successful marketing teams in the hospitality, financial services, and nonprofit industries. Most recently she was an internal comms manager in the tech sector. After a long stint spent in Georgia (Go Dawgs), she moved to Baton Rouge, LA and has written for clients in the financial, luxury imports, higher ed, commercial cleaning, and medical equipment industries. Her son is a media arts major at the University of South Carolina, and her husband owns a comedy theater in Baton Rouge, where you can often find Angi teaching improv classes, leading corporate training events, or doing an occasional stand up set.

  • ◦Sale/Acquisition