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Buckhead Office Project Unloaded at a Loss
The Ameris Center, home of Ameris Bancorp, sold for $81 million, a 10% decrease from its purchase price nine years ago. The seller was Atlanta Property Group. It was acquired by Miami-based B Group Capital Management. The 535,000-square-foot property sold for approximately $151 per square foot. It last sold for $90 million in 2015.
The Atlanta Business Chronicle reported B Group funded the acquisition of Ameris Center with a $61.9 million loan from Truist Bank that matures in June 2029. Truist also held the original $87.5 million loan that was backed by the property.
Miami-based B Group says it elevates properties through repositioning and remodeling.
Atlanta Property Group prioritizes environmental matters. The company stresses reducing carbon emissions. It retrofits existing buildings to make them as climate-conscious as possible while also creating a healthy environment for the people who work at the properties.
- ◦Sale/Acquisition
