Press Release brought to you by PCCP, LLC

PCCP, LLC PROVIDES $29.4 MILLION IN PREFERRED EQUITY FINANCING FOR DEVELOPMENT OF 21-STORY OFFICE TOWER IN ATLANTA, GA

02/12/2018

 FOR IMMEDIATE RELEASE

 

PCCP, LLC PROVIDES $29.4 MILLION IN PREFERRED EQUITY FINANCING FOR DEVELOPMENT OF 21-STORY OFFICE TOWER IN ATLANTA, GA

 

  New York, NY, February 12, 2018 – PCCP, LLC announced today that it has provided $29.4 million in preferred equity financing to Portman Holdings, LLC for the development of 740 West Peachtree, a 21-story, 360,000-square-foot office tower located in the Midtown neighborhood of Atlanta, GA. The office space has been<span c0◊¥Ï",serif;mso-bidi-font-family:"ò\0027c0◊¥Ï"'="" style="font-family: ò;"> 100 percent pre-leased to Anthem, Inc.

    “PCCP is pleased to provide a portion of the equity for the development of this property, which will deliver a high quality, well-located office building for a superb tenant.  We are also excited to close on our third transaction with Portman Holdings, a best-in-class developer with a successful 60-year track record,” said Kevin Chin, senior vice president with PCCP, LLC.

  The Class A high‐rise build‐to‐suit office tower on a 1.22-acre site will offer 7,400-square-feet of ground floor retail space, structured parking, and 352,600 square feet of office space. Designed with best‐in‐class finishes, the office tower will feature an all‐glass façade. Its cutting-edge sustainability design features will make it one the premier LEED office buildings in Atlanta.

  The project will be branded “Anthem Technology Center,” and serve as the health insurer’s IT center, where employees will develop software products and mobile applications for members and healthcare providers.

  The property is located within the 1.4 million-square-foot Technology Square micro‐market in midtown Atlanta which has become known as an innovation hotbed with research facilities, incubators, technology start-ups and the Georgia Institute of Technology campus.  Midtown is a rapidly growing area that has evolved into a vibrant live‐work‐play area at the convergence of Atlanta’s two major interstates.

  Atlanta-based Portman Holdings is a vertically integrated real estate development company with more than 60 years of experience, an extensive global network, and a proven track record with leading financial institutions.  The company has developed more than 50 million square feet of office, hotel, trade mart, residential and mixed-use real estate properties in urban areas worldwide.

  Portman Holdings maintains offices in the USA, India, China, and South Korea. Its sister company, John Portman & Associates, is a leading global architectural & engineering firm.

 

About PCCP, LLC:  PCCP, LLC is a premier real estate finance and investment management firm focused on commercial real estate debt and equity investments.  PCCP has approximately $6.8 billion in assets under management on behalf of institutional investors.  With offices in New York, San Francisco and Los Angeles, PCCP has a proven track record for providing real estate owners and investors with a broad range of funding options to meet capital requirements.  PCCP originates and services each of its investments, ensuring that clients benefit from added value and outstanding investment returns.  Since its inception in 1998, PCCP has successfully raised, invested and managed over $14.8 billion of institutional capital through a series of investment vehicles including private equity funds, separate accounts and joint ventures.  PCCP continues to seek investment opportunities with proven operators seeking fast and reliable capital. Learn more about PCCP at www.pccpllc.com.

 

MEDIA CONTACT:

Jessica Spaulding Thompson / Darcie Giacchetto

Spaulding Thompson & Associates, Inc.

949-233-8575 / 949-278-6224 (cell)

jessica@spauldingthompson.com / darcie@spauldingthompson.com

Source

PCCP, LLC

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