News
DEWBERRY REFIS ONE PEACHTREE POINTE
December 20, 2010
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| 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. |
