Contact Us
News

DEWBERRY REFIS ONE PEACHTREE POINTE

WASHINGTON DC 06.27.2017

THE WASHINGTON DC STATE OF THE MARKET

Matt Bronfman -- Jamestown Properties
Anthony Lanier -- EastBanc
Herb Miller -- Western Development
DEWBERRY REFIS ONE PEACHTREE POINTE
Dewberry capital One Peachtree Pointe Wells Fargo C-111 Asset Management discounted pay off
As we first reported in November, Dewberry Capital has successfully renegotiated its loan on One Peachtree Pointe (circular building in the foreground), according to company officials. Dewberry came to terms with C-III Asset Management, the special servicer for Wells Fargo's original loan for a new undisclosed discounted payoff amount after the developer made an undisclosed deposit toward the loan earlier this year. The project—secured by a loan with  $24.8M  left on its balance prior to this current agreement—has certainly performed well in the past, generating $3M in revenue and nearly $2M in expenses for the first nine months of 2009. The company also reports that it inked a 34K SF expansion for one of its tenants— Innovation Interactive, a subsidiary of Dentsu Holdings USA Inc. Dewberry's Ridr Knowlton  handled the negotiations for the lease.