Atlanta Property Group, an Atlanta based real estate investment firm, said today it has closed on office properties in Florida, North Carolina, Pennsylvania and South Carolina. The deals are the company’s first acquisitions outside metro Atlanta, and add nearly 1.3 million square feet of space to its portfolio.
The company acquired six properties spread among the Charlotte, N.C.; Orlando, Fla.; Pittsburgh, Pa.; and Tampa, Fla. markets. The new properties bring Atlanta Property Group’s total portfolio size to 3.5 million square feet. The buildings were acquired in a single transaction, the terms of which were not disclosed.
“We saw this as a great investment because these are all well-located Class A assets in markets with good job growth, limited construction and strong fundamentals,” said Shep Dinos, an Atlanta Property Group partner. “Collectively, these properties are 83-percent leased, with a great roster of tenants.”
The properties acquired include:
- Baldwin Point, Orlando, Fla. – 164,766 square feet
- 11950 Corporate Blvd., Orlando, Fla. – 226,548 square feet
- Tampa Commons, Tampa, Fla. – 254,808 square feet
- LakePointe Corporate Center, buildings 3 and 5, Charlotte, N.C. – 226,865 square feet
- Edgewater Corporate Center One, Fort Mill, S.C. – 175,145 square feet
- 2000 Park Lane, Pittsburgh, Pa. – 234,859 square feet
Though moving outside metro Atlanta for the first time since its founding in 2003, Dinos said the company’s strategy remains to be hands-on, responsive owners, focused exclusively on office properties.
About Atlanta Property Group
Atlanta Property Group is a real estate investment firm that focuses exclusively on owning and operating office buildings in the southeast. APG has executed more than $1 billion of principal transactions since being founded in 2003 by partners Jonathan Rodbell and Court Thomas. The firm’s portfolio totals 3.5 million square feet in 16 assets, each offering a great location, functional space and relationship-driven service.
