The owners of one of Atlanta’s newest tony office towers struck a refinancing deal in December that ranked as one of last year’s largest refis in Metro Atlanta.
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Bank of America originated a $245M, floating-rate CMBS loan to refinance 1105 West Peachtree, a 31-story office tower that is home to Google in Atlanta. The building is owned by Selig Enterprises Inc. in partnership with the Florida State Board of Administration.
The deal was announced in separate press releases by developer Selig Enterprises and CBRE, which arranged the refinancing.
The tower, spanning more than 653K SF, was developed in 2021 as part of a larger mixed-use project that includes the Epicurean Hotel and the luxury condominium tower 40 West 12th. The refinancing is only focused on the office tower, Selig Chief Development and Operating Officer Steve Baile told Bisnow.
The loan is set to mature on Dec. 9, 2027, according to documents filed with the Georgia Superior Court Clerks' Cooperative Authority database. There are options to extend the loan into 2030, according to Selig Vice President Christine Curry.
The tower is 95% leased to Google and law firm Smith, Gambrell & Russell, according to CBRE.
“At a time when few office refinances are happening, especially for assets of this scale, this transaction underscores continued investor interest in the Atlanta market and the long-term value of a truly exceptional property,” Selig Chief Investment Officer Matt Rendle said in the release.
CBRE declined to comment beyond the press release.
Rendle and Curry led the refinancing efforts for the developer.
CBRE Vice Chairmen Mike Ryan and Brian Linnihan, Senior Vice Presidents Richard Henry and Blake Cohen, and Directors JP Cordeiro and Taylor Crowder arranged the financing with Bank of America.
The deal closed on Dec. 5.
The refinancing was consummated nearly a month before longtime Selig CEO Steve Selig relinquished his leadership of the eponymous firm to his daughter Mindy Selig and nephew Greg Lewis at the start of 2026. Selig, 82, remains chairman of the firm and co-owner with his sister Cathy Selig.
The refinancing of 1105 West Peachtree represents the largest single-asset refinancing of 2025 in Metro Atlanta, Trepp spokesperson Jennifer Spillane said in an email.
Colliers Senior Vice President Will James said it is likely Selig is betting on floating-rate debt with the hopes that rates will come down further before the loan’s maturity date, allowing the firm to secure fixed permanent financing at a more favorable interest rate.
“That loan size is as big as it gets in Atlanta,” James said. “You’re not going to find too many buildings that are going to warrant that kind of loan.”
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