CBREI TO BUY MORE ATLANTIC STATION?
|Sources tell us that CBRE Investors is in talks to purchase the note on 201 17th Street (said note is currently being passed around math class), the office building currently owned by Jacoby Development. And that will finish out its office buys in Atlantic Station.|
|This will potentially end Jacoby's involvement in Atlantic Station, the mini-city the visionary firm developed. Sources indicate CBREI will purchase the nearly $65M note from Wells Fargo (formerly Wachovia), which matures on Dec. 31 (Databank supplied the loan details to us). Potential price was not disclosed. Earlier this year, CBREI purchased the other office assets at Atlantic Station from AIG (with North American Properties taking the retail portion).|