Admiral Capital Real Estate Fund, a joint venture with USAA Real Estate Company and Admiral Capital Group, acquired 200 Ashford Center North in Atlanta's Central Perimeter submarket in a joint venture with SDM Partners, an Atlanta-based private commercial real estate firm. While terms of the deal were not disclosed, GlobeSt.com reported that State Bank and Trust Co. provided senior-level financing. The 160,000 square foot office building was sold by a pension fund client of Bethesda-, MD-based ASB Real Estate Investments.
"We view 200 Ashford Center North as an excellent value-add opportunity in Atlanta's largest and most vibrant office submarket," said SDM Partners' Managing Principal Steven D. Martin. He added that "This transaction is another example of the Central Perimeter's ongoing attractiveness to investment capital."
"200 Ashford represents the first investment in the Atlanta market on behalf of the Admiral Fund," said David Robinson, founder of Admiral Capital Group. "We continue to expand our portfolio with high-quality value-add assets, and we look forward to further enhancing value with our partner, SDM Partners."
For more news and information visit Blumberg Capital Partners.
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