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The Inside Scoop on the People & Places that Shape Atlanta Real Estate | |
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ACP Eyes Equitable
The Equitable building.
Downtown's Equitable building, a modernist late '60s landmark,
is under contract with America's Capital Partners, our sources confirm.
ACP has the 615,000-square-foot, 35-story building under
contract for approximately $27 million, or $44 per square foot. Current owner
Capmark Financial Group took the property back from Equastone in April 2009,
foreclosing on Equastone's $51.9 million mortgage on its $57 million
acquisition.
CB Richard Ellis' Will Yowell, who is marketing the building
on behalf of Capmark, declined to comment, as did the property's leasing team
at Lincoln Property Co. ACP executives did not return calls.
A former iteration of America's Capital Partners owned
Peachtree Center, Ten Tenth Street and Two Ravinia, so the pending acquisition
would mark a return to Atlanta's office investment market for Miami-based ACP,
assuming the deal crosses the finish line.
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Putting Together the Pieces at
Avison
Young From left to right: Avison Young Partners and Principals Krista Reid, Bruce Logue, Steve Dils, Chet Koenig, Belinda Lauderbaugh and Todd Blalock. Not pictured: Chris Stanley, Tom Crowe, Matt Tritschler, Brent Weitnauer and Chip Watson.
Starting from scratch is a lot easier
when you have the right ingredients.
Such is the case at Avison Young, the
Toronto-based services firm that swooped into town at the beginning
of the year, hiring Steve Dils to lead its Atlanta and Southeast team.
Dils has plenty of experience with managing real estate firms and recruiting
talent, and brokers like Brent Weitnauer, Chip Watson,
Matt Tritschler and Alex Hertz as well as the ownership group at Hodges
Management and Leasing Co. found it irresistible when Dils pitched the
chance to join Avison Young as principals and help build the company's
expanding U.S. presence.
"You just don't get these opportunities,"
said Chet Koenig, one of Hodges Management and Leasing's founders
and now a principal at Avison Young. "To have that when all your other
needs are being met as well is just serendipitous."
Avison Young's merger with Hodges
brought immediate scale to the enterprise, adding a 19 million-square-foot
portfolio of Southeast industrial properties to the mix as well as all
the financial and reporting capabilities essential to the portfolio's
leasing and management.
Watson, Weitnauer, Tritschler and Hertz
bring their tenant rep and capital markets expertise to the table and
were drawn to Avison Young's strong balance sheet and management and
the prospects of starting anew and making an impact.
"This is a place where you can leave
your mark and do something few people have the opportunity to do,"
Watson said.
The entire team's capabilities and
existing relationships provide the platform for the Avison Young to
recruit additional talent and springboard into retail and office tenant
rep and agency leasing. Dils expects to have 10 tenant rep brokers by
year end and another 10 by the end of 2011.
"What I've found over the years
is this is the part I really like, building the business," Dils said.
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The Hits Keep on Coming
 A look at 191 Peachtree.
Earlier this week we reported on a Cousins Properties' double whammy involving 100,000- and 186,000-square foot headquarters' deals in Buckhead and Downtown. Well, the hits keep on coming as Cousins has leased 34,000 square feet to RidgeWorth Investments at Terminus 200 and 52,000 square feet to Carlock, Copeland & Stair at 191 Peachtree.
Carter's Kirk Diamond and Brad Haertel represented RidgeWorth Investments, while Cousins' Walter Fish and Anton Kotze lead leasing efforts at Terminus 200. The investment management firm plans to move to Terminus 200 next spring.
Carlock, Copeland & Stair is relocating from Peachtree Center and taking the 36th and 37th floors at 191 Peachtree. Ben Raney of Raney Real Estate represented the tenant, while Fish represented ownership. The law firm plans to move a few blocks down Peachtree Street to 191 in 2011.
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Welcome to Atlanta! Melissa Trifiro of Mace Macro.
International facilities management firm Mace Macro is
ramping up in the U.S. and Canada and has added Greg Westbrook and Melissa
Trifiro as facilities management director and business development director,
respectively, for metro Atlanta. The Atlanta team will build on the firm's
success working with Invesco, which added its North American properties to Mace
Macro's management portfolio in 2009. Mace Macro also manages Invesco
facilities in the U.K. and Europe.
"As we have shown on the Invesco account, we believe
that our service model translates exceptionally well from the U.K. and has the
potential to provide real value to firms of all sizes and industries across the
U.S. and Canada," said Peter Brumby, Mace Macro's managing director in London.
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Conferring at Loews Hotel
 Reznick Group's Tim Kemper moderated the discussion on equity in capital markets with Darren Van Hof't of U.S. Bank, Brian Adam of Suntrust and Adam Dash of Starwood Energy Group Global.
Reznick Group hosted more than 200 real estate professionals with a two-day conference at the Loews Hotel in Midtown this week. Their Real Estate and Renewable Energy Markets Forum covered capital market debt and equity, the local office market, the effect of current legislature on renewable energy, structured finance, and affordable housing, to name just a few. After soaking up all the Reznick knowledge, the enlightened group closed out the conference with a cocktail party on the hotel patio Tuesday evening. |
ULI's Timely Topic
 From left to right: Seth Weissman of Weissman, Nowack, Curry & Wilco, Norman Radow of RADCO, Scott Johnston of Talisman Partners, Tamia Sammons of ULI and Alrich Lynch of LDG Consulting.
Few things seem as
simple and uncomplicated as unwinding capital stacks in distressed assets.
Thankfully, there are people like attorney and developer Norman Radow, founder
of RADCO Development Solutions, who has plenty of experience and insight on the
topic and shared that knowledge at the Urban Land Institute's Luncheon Speaker
Series Wednesday.
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