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Atlanta Commercial Real Estate

Billion Dollar Deal Includes ATL

This morning we snapped this photo of RiverEdge Summit. If all goes as planned with Dividend Capital's $1.4 billion acquisition of a portfolio from iStar Financial, the office complex will be Dividend Capital's newest Atlanta holding. The acquisition, expected to close in the second quarter, is a whopper. It would add 22 office properties in 12 markets and 11 industrial buildings in 10 markets to Denver-based Dividend Capital's portfolio. Most of the buildings are leased to large corporate tenants on a triple-net lease basis. The two-building RiverEdge complex in a secluded setting on the Chattahoochee is more than 95 percent leased to tenants including IBM.

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Related Topics: Dividend Capital, Star Financial
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