The owner of an iconic Downtown Atlanta skyscraper appears to be nearly a year behind on repaying its mortgage, and it has since pulled the property off the market.
As of March 2025, the Dilweg Co. had an outstanding balance of $68.5M on 101 Marietta St., the 36-story office tower near Centennial Olympic Park with a distinctive chevron-shaped roof, according to deed records with the Georgia Superior Court Clerks' Cooperative Authority database. The loan was slated to mature on Aug. 30, 2025. No other records appear in the database to indicate the loan has since been satisfied or extended.
“Borrower and lender have an amicable relationship, and under difficult circumstances, both parties have been very respectful and professional with each other,” Dilweg Chief Operating Officer Drew Cunningham said Monday in an email to Bisnow. He declined to comment further.
Dilweg originally purchased the 675K SF tower in 2015 for $68.8M. At the time, the firm obtained a $64.5M loan from Providence-based Citizens Bank, and subsequently, the parties modified the loan five times, according to records in the database.
Citizens declined to comment.
Dilweg tapped CBRE and Newmark to market 101 Marietta St., formerly known as Centennial Tower, for sale in March 2025, with hopes of achieving $100 per SF for the asset, the Atlanta Business Chronicle reported at the time. That was the second time Dilweg attempted to sell the asset. It had also put the tower up for sale in 2020, just before the pandemic, aiming to achieve offers of more than $150M, according to the ABC.
CBRE Vice Chairman Will Yowell told Bisnow the firm is no longer marketing 101 Marietta St. for sale and deferred further questions to Dilweg. Yowell did not say when CBRE ceased marketing the tower for sale.
CBRE said 101 Marietta St. was 62% leased with 45 tenants, according to its marketing site, including the headquarters office for the Atlanta Hawks, who play at State Farm Arena across from the tower. According to CBRE, Dilweg invested about $12M into the property since 2016 and tallied 310K SF of leasing activity over the past six years.
Fulton County valued the property at $79.6M in 2025, down from $85.4M in 2023.
Dilweg’s tower isn’t the only Downtown Atlanta office building facing maturing debt. Morningstar Credit put the 191 Peachtree Tower’s $80M loan on a watchlist last month, Bisnow reported. And Fitch Ratings downgraded a Morgan Stanley CMBS pool in part due to the loan.
Downtown Atlanta’s office market has been struggling this year. The first quarter of 2026 saw a more than 30% vacancy rate, with companies emptying 124K SF of office space, according to a Colliers report. In contrast, the Midtown Atlanta office submarket tallied a nearly 30% vacancy rate but saw companies lease more than 300K SF in the first quarter.
Earlier this year, Chapel Hill, North Carolina-based Dilweg said it remains focused on acquisition growth in the Southeast. In February, the firm expanded the role of Jerry Banks, managing director of asset management, to lead acquisition efforts in Metro Atlanta.
