Parkway Details ATL Buys
What's the price for Parkway Properties in Atlanta? So far this year, it amounts to more than $100M. Parkway released details of its two Atlanta acquisitions in 2013, including its trophy buy of Tower Place 200 in Buckhead and most recently, 7000 Central Park in Dunwoody. As for Tower Place, the company acquired the 258k SF tower for $56.3M using its unsecured revolving credit facility, according to SEC filings. "The building is unencumbered by debt and the company does not plan to place secured financing on the property at this time," officials state.
During the past few weeks, Parkway also announced it bought 40% interest in 7000 Central Park, a 415k SF building in Central Perimeter. The company says its total share in buying the note secured by the building was $45M. The JV foreclosed on the property earlier this month "and expects to place secured financing on the asset by the end of the Q4," officials say.