The Ameris Center, headquarters of Ameris Bancorp, was recently sold for $81 million by Atlanta Property Group. This marks a 10% decrease from its purchase price nine years ago. The property spans 535,000 square feet and was acquired by B Group Capital Management based in Miami for approximately $151 per square foot. In 2015, the same property was sold for $90 million.
According to the Atlanta Business Chronicle’s report on this transaction, B Group utilized a loan of $61.9 million from Truist Bank to fund their acquisition of Ameris Center. The loan is set to mature in June 2029 and Truist also held the original loan worth $87.5 million that was secured by the property.
B Group specializes in revitalizing properties through strategic repositioning and remodeling efforts.
Atlanta Property group has a strong focus on environmental sustainability with an emphasis on reducing carbon emissions at their properties through retrofitting measures while also promoting healthy work environments for tenants.
This recent sale highlights Buckhead Office Project’s decline as it incurred losses upon being unloaded.
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