**Peachtree Group Finances $42M Acquisition of Atlanta Financial Center**
Peachtree Group has originated a $42 million first mortgage loan to finance Banyan Street Capital’s acquisition and repositioning of the Atlanta Financial Center (AFC), a 914,774-square-foot Class A office campus located in the Buckhead district of Atlanta.
The floating-rate loan includes a 36-month initial term with an option for a 12-month extension. It is supported by completion, interest, and carry guarantees provided by Banyan.
“We believe the office sector is at an inflection point, much like retail when we were financing mall acquisitions. Negative sentiment is masking real opportunities,” said Daniel Siegel of Peachtree Group.
Originally purchased in 2016 by an affiliate of Sumitomo Corporation for $222.5 million, the property has since experienced tenant departures, weakening market fundamentals, and shifting investment priorities.
Banyan Street Capital plans to reposition AFC by focusing on leasing the property’s North Tower. The strategy will be supported by reserves for capital expenditures, as well as funding for tenant improvements and leasing initiatives. The sponsor is also exploring opportunities for attracting larger tenants and potential future redevelopment of the site.
