Atlanta & Southeast News In Your Inbox
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
CIM Group Provides $344M Loan for BOA Plaza Acquisition
CIM Group has closed a $343.8-million loan to finance the acquisition of Bank of America Plaza, a 55-story Class A office tower in Atlanta, GA. The property was acquired (read more) by CP Group and investment funds managed by HPS Investment Partners, LLC.
Loan proceeds will facilitate the acquisition and lease up of the property, including a capital improvement plan with renovations to the lobby, restrooms, elevators, and other property improvements.
Bank of America Plaza is the tallest building in GA and comprises 1,351,586 square feet of office space. Tenants have access to a variety of amenities including a 10,000-square-foot conference center, a 17,000-square-foot fitness center, a food hall, on-site Starbucks, and a 1.2-acre park along West Peachtree Street.
CIM Group through its CIM Real Estate Debt Solutions business recently closed a $175 million loan secured by a 42-story office tower in Tampa.
- ◦Financing
