A NYC real estate investment firm has debuted in Atlanta with one of Buckhead's most recognizable names in office buildings. (Life is like high school: link up with the popular kids and you're set.)

HighBrook Investment Management has officially purchased One Live Oak, the 201k SF building along Lenox Road that's part of the office cluster with its sister Two Live Oak (though not their cousin, 2 Live Crew) and the iconic Pinnacle Building. Databank tells us that HighBrook picked up the building in an off-market transaction by first purchasing the loan on the property and then subsequently recapitalizing with the previous owners who had purchased the building in 2008. HighBrook paid $22.2M for the building with the help of a nearly $7M first mortgage by Mesa West Capital that has funding capacity up to $20M. One Live Oak is some 65% occupied with the University of Georgia as its primary anchor.

We spoke with HighBrook managing director Robert Giusti, who talks about why his group was attracted to Atlanta and One Live Oak. "It's a very well-located building in the heart of the Buckhead submarket,” he says, adding that it has been "over-leveraged and under-capitalized" for many years. “We view it as an excellent repositioning opportunity.” HighBrook plans to spend an undisclosed sum to redo the facade and common areas and pursue tenants in the Buckhead market on price compared to many of the other towers in the area.