OA recently announced an investment opportunity for the purchase of a new building, which was oversubscribed within 48 hours. The six-story building is located in the heart of Perimeter Center, Atlanta’s most vibrant office market, and has a solid tenant roster in place for the next 6+ years. The cash flow on the asset is very solid and generates an 11.29% average annual yield.
The building is expected to close in May 2016 for $13.7 million. Investment opportunities are no longer available for this acquisition, but we look forward to sharing information about other opportunities soon.
Investor interest in this property is further testament to the company’s savvy pairing of local and global capital with high-quality commercial properties. OA has acquired 15 commercial properties since July 2009, bringing the company’s total square footage acquired to more than 1.9 million square feet.