Regent In Talks To Buy Tower Place 100: The Atlanta Deal Sheet
The owner of the skyline-defining King and Queen office buildings in Central Perimeter has its eye on another iconic tower, this time in Buckhead.
Regent Partners, in a joint venture with Florida-based Morning Calm Management, won the bid for Tower Place 100 and its attached Tower Walk retail building, the Atlanta Business Chronicle reported. Regent is now in due diligence to acquire the 639K SF tower at 3340 Peachtree Road, according to the ABC, citing unnamed sources.
Earlier this month, real estate publication Green Street News reported that Regent and Morning Calm were in talks for up to $124M in debt to purchase the tower.
Starwood Capital Group defaulted on its $212.5M mortgage on the 29-story tower in 2023, after buying it eight years earlier for $192M. The loan has been in special servicing since, the ABC reported. Tower Place 100 was the first office high-rise in the Buckhead submarket, developed by legendary Atlanta developer Charlie Ackerman in the 1970s.
Tower Place 100 is 65% occupied, and Tower Walk is 44% occupied, the ABC reported. The value of both buildings dropped from $277M in 2018 to $153M last year.
SALES
Florida-based Sterling Organization purchased Merchants Walk, a 272K SF Whole Foods Market-anchored shopping center in Marietta, from Edens for $93.2M. The purchase was part of Sterling’s $600M value-add fund called Sterling Value Add Partners IV.
The retail center is currently 90% leased, with 26K SF of vacant space, on 30 acres at the corner of Roswell and Johnson Ferry roads. Other tenants include Marshalls, PetSmart, Old Navy and Georgia Theater Company Stadium Cinemas.
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Atlanta's Christ Covenant church purchased Piedmont Place, a four-story, 94K SF office building in Buckhead, from an LLC called Foundry Hall Piedmont Place for $16.9M, according to a property sales tax document filed in the Georgia Superior Court Clerks' Cooperative Authority database.
According to Georgia Secretary of State records, the manager for Foundry Hall was listed as Foundry Commercial Chief Investment Officer Pryse Elam. Foundry Commercial paid $21.8M for the building in 2021.
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Boston-based TA Realty purchased 7605 Factory Shoals Road, a 117K SF warehouse in Austell, from Alliance Industrial Co. for $20M, according to a property sales tax document filed in the Georgia Superior Court Clerks' Cooperative Authority database.
The facility was built in 2025. Alliance obtained a loan that year for nearly $11M from Texas-based Hancock Whitney Bank that was slated to mature this August, according to superior court clerks’ records.
PERSONNEL
Brett Warner was tapped by SJC Ventures to be its new chief financial officer, following his stint at Florida-based Related Ross and its affiliated Related Cos.
Warner spent 13 years at Related, where he helped establish the financial reporting infrastructure for its $25B Hudson Yards mixed-use project in Manhattan.
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JLL promoted Mary Margaret Murphy to development management team lead for the project and development services division in Atlanta. She is tasked with leading project management and advisory services for ground-up construction projects.
Murphy has spent nearly a dozen years with JLL, where she led Canterbury Court’s $200M senior living expansion and the redevelopment of the 350K SF Georgia Tech Research Institute Cobb South Campus. She is also leading the expansion of the Atlanta Botanical Garden starting this fall.
DEVELOPMENT
Two LLCs tied to Alpharetta-based Horizon Hospitality Management have applied to go vertical on a dual-branded hotel in Midtown.
The hotel developer is seeking approval from the city of Atlanta to build a 12-story Motto Hotel by Hilton for $34.1M and a TownePlace Suites by Marriott-Midtown Atlanta for $30M, according to the applications.
Urbanize Atlanta first reported last year Horizon’s plans for the dual-branded hotel on a half-acre site where the 1920s Rosser Building sat before being razed some seven years ago. The developer planned to add 381 rooms in total as well as a rooftop restaurant and street-level coffee shop, according to Urbanize.
