Brookwood Financial Partners, L.P. Announces the Sale of Cobb Corporate Center in Marietta, Georgia.BEVERLY, Mass. -- Brookwood Financial Partners, L.P. ("Brookwood") announced that its affiliate, Brookwood Cobb Center Investors, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , has sold Cobb Corporate Center for $18,100,000. Cobb Corporate Center is a five-building office and warehouse complex totaling 195,921 net rentable square feet. The project is located in Marietta, Georgia Marietta is a city located in central Cobb County, Georgia GR6, and is its county seat. As of the 2000 census, the city had a total population of 58,748, making it one of metro Atlanta's largest suburbs. , a Northwest suburb of Atlanta, and is currently 71.8% leased. "We remain bullish on the Atlanta office market," stated Eve M. Trkla, Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of Brookwood. "In the past 20 months, we have acquired approximately $40 million of office properties in the greater Atlanta metropolitan area The Atlanta metropolitan area, commonly referred to as metro Atlanta in Georgia, is the ninth-largest metropolitan area in the United States and consists of up to 28 counties in Georgia. and are actively looking to add to our portfolio in this market," continued Ms. Trkla. "Given the strong investor demand for value-add properties, we decided to take our profit on Cobb Corporate Center and reinvest it in new acquisitions." Brookwood's remaining holdings in Atlanta total approximately 364,000 square feet of office space in four buildings, including: Century Springs East (95,357 square feet) and Century Springs West (96,512 square feet), both of which are located in Sandy Springs, Georgia Sandy Springs (formerly Hammond) is a newly incorporated city, as of December 2005, and a suburb of Atlanta, Georgia. Located in Fulton County, Georgia, just south of Roswell, it is named for the sandy springs that still exist in the city as a protected historic site. , and 1955 Lake Park Drive (86,583 square feet) and 2300 Lake Park Drive (85,347 square feet), which are located in Smyrna, Georgia Smyrna is a city in Cobb County, Georgia, United States. As of the 2000 census, the city had a total population of 40,999. Census estimates of 2005 indicate a population of 47,643. Pioneers began settling the area in 1832. . Thomas R. Shafer of Resource Real Estate Partners LLC represented Brookwood Cobb Center Investors, LLC in the transaction. The purchaser was Crown West Realty, L.L.C. Brookwood acquired the buildings for an aggregate purchase price of $16,800,000. About Brookwood - Brookwood is a Massachusetts-based private equity firm that acquires real estate and invests in private companies. Since 1993, Brookwood has acquired 56 properties totaling approximately 7.2 million square feet of office, retail and research & development space as well as 143 hotel rooms, 138 condominium units and 572 apartments units. Brookwood has acquired real estate assets throughout the United States including Arizona, California, Colorado, Florida, Georgia, Maine, Maryland, Massachusetts, New Jersey, North Carolina North Carolina, state in the SE United States. It is bordered by the Atlantic Ocean (E), South Carolina and Georgia (S), Tennessee (W), and Virginia (N). Facts and Figures Area, 52,586 sq mi (136,198 sq km). Pop. , Texas, and Virginia. In addition, Brookwood has invested in eight private companies in the wireless telecommunications, restaurant, software and outsourcing industries. Brookwood has invested over $348 million in equity to acquire assets with a realized and unrealized value of approximately $1.1 billion. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion