Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged $38.76 million in financing for One and Two Premier Plaza, a two-building, Class A office complex totaling 316,734 square feet in Atlanta, Georgia.
HFF worked on behalf of the borrower, Zeller Realty Group, to secure the floating-rate loan through New York Life Insurance Company with an initial term of three years plus two 12-month extension options. Loan proceeds were used to acquire the property and provide funds for future leasing and capital improvement costs.
One and Two Premier Plaza is situated on a 7.54-acre site at 5605 and 5607 Glenridge Drive NE in Atlanta’s Central Perimeter. This places the property within a half of a mile from the intersection of State Highway 400 and Interstate 285, providing connectivity to all of Metro Atlanta. The 11-story One Premier Plaza and the seven-story Two Premier Plaza are 81.4 percent leased to a variety of national, regional and local tenants, including McGriff, Siebels & Williams, Mozley, Finlayson & Loggins, FirstPRO, JMG Realty, Peachtree Hotel Group and The Gap. Recently renovated, the office complex offers covered building access, structured parking, an exterior patio with barbeque grills, café, conference facility and fitness center.
The HFF debt placement team representing the borrower was led by senior managing director Ed Coco and senior real estate analyst Matt Casey.
“Zeller Realty Group is a best-in-class owner/operator in several office markets across the country, and with their acquisition of Premier Plaza, Zeller has now entered the Atlanta market with a well-located asset offering the combination of a diverse tenant base with income growth potential,” said Coco. “The financing offered by New York Life provided a structure that best aligned with Zeller’s strategy for this asset that has been well-executed with similar properties in other markets across the county, and we look forward to seeing the same success and growth in Atlanta going-forward.”
“We are extremely pleased to enter the Atlanta market with our acquisition of One & Two Premier Plaza,” said Paul M. Zeller, Chairman and CEO of Zeller Realty Group. “Having studied it closely for several years, we know first-hand that Atlanta is a leading growth market with a diversified economy. We look forward to additional investments in Atlanta, as Zeller Realty Group continues its growth nationwide.”
About Zeller Realty Group
Zeller Realty Group (ZRG) is a vertically integrated commercial real estate investment and development firm that has offered investors exceptional expertise, innovation, and insight to value for over 28 years. ZRG strategically selects properties for value creation, repositioning and reintroduction to their markets, while maximizing efficiency by providing a full spectrum of real estate services, including development, leasing, management, and construction. Headquartered in Chicago, Illinois, ZRG owns and operates assets in the Midwest, Colorado, Oregon, and Georgia and continues to grow and expand its holdings nationally. Since its formation, the company has delivered strong returns for its partners and co-investors by providing best-in-class service to enhance value. Currently, ZRG owns and operates a portfolio of nearly 9 million square feet valued at $2.3 billion.
For more information, please visit: www.zellerrealty.com.
About HFF
Holliday Fenoglio Fowler, L.P., HFF Securities L.P. and HFF Securities Limited (collectively, “HFFS”) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 24 offices and is a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.
