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Selig-Led Team Inks $245M Refi on Peachtree Highrise
Selig Enterprises and the State Board of Administration of Florida closed on a $245 million loan to refinance 1105 West Peachtree, a 653,525-square-foot office building in Atlanta. Deutsche Bank National Trust Co. is the trustee.
Commercial Edge reports that Trimont LLC is the master servicer, while KeyBank National Association is the special servicer. The loan, along with $10.9 million in equity, will refinance $243.7 million of existing debt and establish $11.2 million in reserves for outstanding tenant improvements and abatements, as well as cover closing costs.
In 2019, the ownership obtained a $303 million loan from Development Authority of Fulton County. The 31-story tower was delivered in 2021.
The high-rise is part of a larger mixed-use development that also includes a 178-key hotel and a 64-unit condominium building. The building was 95.4 percent leased at the time of deal and is primarily occupied by Google.
- ◦Financing
