Banyan Street Capital is rebranding the Atlanta Financial Center, the three-building office complex in Buckhead that was the subject of one of the largest commercial real estate crowdfunding swindles in Atlanta history.
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Banyan Street this week unveiled Apex Atlanta, a rebranded three-building, 915K SF office complex that straddles Georgia 400 off Peachtree Road. The new name is part of Banyan Street’s overhaul of the complex into a mixed-use destination, according to a press release from Newmark, which has been tapped to lease the office component.
The investment firm is spending $4M to transform Apex North, the complex’s 241K SF north tower, which will host a new lobby, an on-site café and a new elevated restaurant space, according to the release. Banyan is also rolling out 16K SF of speculative office suites that are set to open for occupancy this month.
Beyond the north tower renovations, Banyan plans to convert the 284K SF south tower into a residential community with 260 apartment units. No date was given for that conversion.
The firm, which acquired Atlanta Financial Center in 2025 from Sumitomo Corp., also plans to redevelop the 19-story, 386K SF central tower into a trophy-quality office building, complete with a new curtain wall facade, removal of the skybridges, a tiered town hall, food and beverage tenants on the ground floor, and a rooftop skydeck.
Newmark’s Craig Kalinowski, Brad Kirschner and Stewart Thrash have been tapped to lease the office for Banyan.
“The launch of APEX Atlanta reflects our conviction in Buckhead and establishing a new beginning for this irreplaceable landmark property,” Zac Gruber, principal and president of Banyan’s office division, said in the release. “Tenant demand in Buckhead continues to concentrate in the highest-quality buildings, and we are approaching each of the three towers with a distinct strategy to meet it.”
The Atlanta Financial Center became infamous after Nightingale Properties CEO Elie Schwartz pilfered more than $60M from crowdfunding investors who believed they were going to purchase the complex. Instead, Schwartz diverted much of the funds to personal luxuries, including a Miami condo, art, payroll at other properties and high-end watches.
Nightingale’s deal to buy the center never materialized. Last year, Schwartz was sentenced to 87 months in prison.
SALES
A limited liability company tied to Bethesda, Maryland-based Acento Real Estate Partners purchased the Legacy at West Cobb, a 395-unit garden-style apartment community at 2665 Favor Road in Marietta for $48M, according to sales tax documents filed with the Georgia Superior Court Clerks' Cooperative Authority database.
The seller was an LLC tied to Massachusetts-based Aspen Square Management, which purchased the property in 2021 for $44.2M, according to Cobb County property records.
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The price RCG Ventures paid for Tucker Meridian Shopping Center last month has been revealed.
RCG paid $41.1M to buy the 208K SF Sprouts Farmers Market-anchored shopping center from Ben F. Kushner Co., according to records filed in the Georgia Superior Court Clerks' Cooperative Authority database. Aside from Sprouts, other tenants in the property, which is 98% leased, include Hobby Lobby, Ross Dress for Less and Dick’s Sporting Goods.
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Watkins Real Estate Group sold Dahlonega Village, a 65K SF Publix-anchored shopping center at 23 Maxwell Lane with a fully leased tenant lineup that includes Great Clips, Lifestyle Nail Bar, Jersey Mike’s Subs and Tropical Smoothie Cafe.
The buyer is an LLC attached to Athens-based Austin-Sumner Properties, which purchased the property for $21.2M, according to sales tax documents filed with the Georgia Superior Court Clerks' Cooperative Authority database.
JLL’s Jim Hamilton, Brad Buchanan and Charlie Merrigan brokered the sale.
PERSONNEL
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Hunter Advisors has tapped Katy Reynolds as senior vice president. She will help lead Hunter’s underwriting team. Reynolds, a former senior director at Walker & Dunlop, has more than 20 years of industry experience, having helped to dispose of more than $10B in properties in her career.
LEASES
Law firm Dentons has leased 24K SF at Midtown’s Proscenium building, with plans to downsize from its 100K SF at Truist Plaza in Downtown Atlanta, the Atlanta Business Chronicle reported. The 520K SF Proscenium was renovated by landlords Town Lane and Cousins Properties, which jointly acquired the 24-story tower in 2024.
FINANCING
New York-based TriPost Capital Partners invested $66.5M in Atlanta-based residential development and investment firm Trilogy Investment Co., according to a press release. The partnership combines operating and balance sheet capital for future Trilogy investments and projects and the recapitalization of some of Trilogy’s portfolio, according to the release.
The partnership makes TriPost a general partner and allows Trilogy, with more than 3,200 lots and homes under construction, to consistently raise money for future projects instead of finding partners on a transaction-by-transaction basis. Trilogy plans to develop more than 2,000 homes in 2027 and 2028, according to the release.
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