In a recent acquisition, Insignia has taken ownership of Parkside Terraces, a 20-acre office campus in Alpharetta. According to the Atlanta Business Chronicle, the property was purchased for $15 million through a deed in lieu of foreclosure. This is significantly lower than what the previous owner paid for it six years ago.
To finance this transaction, Insignia secured a $10 million loan from White Oak Assets LLC. The previous owner of Parkside Terraces was Ravinia Capital Group who had bought it for $48.1 million in April 2019 with a loan from Citizens Bank National Association worth $39.2 million that would mature in May 2024.
Located on Mansell Road near North Point Mall, Parkside Terraces consists of two buildings spanning over 127,000 and 156
