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REGENT PARTNERS AGREES TO BUY ATLANTA'S TOWER PLACE COMPLEX

 ATLANTA, Jan. 22 /PRNewswire/ -- Regent Partners, an Atlanta-based real estate development and management company, has signed a contract with Chemical Bank, New York, to purchase Tower Place, a landmark, mixed-use complex located on Peachtree Road in the Buckhead area of Atlanta.
 Value of the cash transaction, which is subject to final closing, wasn't disclosed.
 Regent Partners said it plans a major renovation of the office space, retail courtyard and hotel on the 21-acre property to take advantage of its strategic location.
 "Buckhead is one of the most desirable and prestigious commercial districts in metropolitan Atlanta," said David Allman, president of Regent Partners. "The extension of Georgia Highway 400 will further enhance Buckhead's appeal by providing access to major businesses and residential areas to the north and south. Tower Place offers a pre- eminent location for any business wanting to locate in a growing, vibrant area."
 The Tower Place complex includes a 29-story office tower and two- level retail courtyard, a five-story office building, a 221-room hotel and six parking facilities including three covered garages.
 Regent Partners provides a full range of commercial real estate services including financing, project development, marketing and leasing, asset disposition and property management.
 Regent Partners is a joint venture of Philipp Holzmann USA, Inc. and its subsidiary, J.A. Jones, Inc. Philipp Holzmann USA is a wholly owned subsidiary of Philipp Holzmann AG, Frankfurt, one of the world's largest, diversified construction concerns.
 -0- 1/22/93
 /CONTACT: Kathy Wiggins of Knapp, Inc., 404-688-1777, for Regent Partners/


CO: Regent Partners; Philipp Holzmann USA; J.A. Jones, Inc. ST: Georgia IN: SU: RLE

RA-TG -- AT009 -- 7798 01/22/93 09:55 EST
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Publication:PR Newswire
Date:Jan 22, 1993
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