They Pledge Allegiance To ATL Office
A Charlotte real estate investment firm is pledging to buy more office product in Atlanta. We spoke with Allegiance Realty Corp CEO Chris Smith (here with this CFO Lisa Quinn), who tells us the firm is focused mainly on office properties along the GA 400 spine, from Central Perimeter to Alpharetta. It only has two assets in Atlanta1720 and 1725 Windward Concourse, its sweet spot of North Fulton. "From a housing stock, quality of the assets, ingress and egress, historically [buildings along that corridor] are the ones that recover the fastest," he says.
Allegiance recently tapped San Diego-based Trigild to manage its two Windward Concourse properties (above). As for Chris, he says Allegiance sees opportunities to add to its office stock in the next few months. "We think there's going to be a greater supply of deal flow that are going to be lender, [special] servicer driven," he says.