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Atlanta Commercial Real Estate

BIG DECATUR BUY

A new fund from Parmenter Realty Partners has just targeted adistressed metro office, 160 Clairemont, for one of its first value-add acqusitions.
 
160 Clairemont is a 122k SF Class-A office building in Decatur. The firm's new $500M Parmenter Realty Fund IV purchased the 72%-occupied building last week for an undisclosed price, Parmenter officials tell us. (Whoever can guess closest without going over gets to play Plinko.) Databank tells us the seller was Lexington Capital. Parmenter's COO Andrew Weiss says 160 Clairemont is indicative of the types of properties Fund IV has targeted throughout the Southeast. We'll have more tomorrow on this and other deals in our interview with Parmenter's John Davidson.

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