At a glance
- The tower is 88% leased, and Purchasing Power holds a multi-floor lease commitment through 2032, according to Connect CRE.
- For allocators, the open underwriting question is whether the sale clears the $98.3 million 2015 purchase price, given the 88% occupancy and the 2032 Purchasing Power lease commitment.
- KBS said in a filing it must sell some properties to satisfy debt obligations, Connect CRE reported.
KBS Real Estate Investment Trust III is marketing 201 17th St., a 17-story Atlanta office tower it bought for $98.3 million in 2015, Connect CRE reported on Nov. 6, citing the Atlanta Business Chronicle.
The tower is 88% leased, and Purchasing Power holds a multi-floor lease commitment through 2032, according to Connect CRE. Other tenants include Worldpay US/FIS, Nelson Mullins Riley & Scarborough, Tractian, Feedzai and Bluewolf, an IBM company. The asking price was not disclosed.
For allocators, the open underwriting question is whether the sale clears the $98.3 million 2015 purchase price, given the 88% occupancy and the 2032 Purchasing Power lease commitment.
KBS said in a filing it must sell some properties to satisfy debt obligations, Connect CRE reported.
| Item | Detail | Source |
|---|---|---|
| Seller | KBS Real Estate Investment Trust III | Connect CRE |
| Property | 201 17th St., Atlanta, 17 stories | Connect CRE |
| 2015 purchase price | $98.3 million | Atlanta Business Chronicle, via Connect CRE |
| Occupancy | 88% leased | Connect CRE |
| Anchor commitment | Purchasing Power, multi-floor lease through 2032 | Connect CRE |
| Asking price | Not disclosed | Connect CRE |
Reported by the Deals desk from Connect CRE and Atlanta Business Chronicle (via Connect CRE). Published . Corrections